The stock of BMO SP TSX CAPPED COMP IDX ETF (TSE:ZCN) gapped down by $0.04 today and has $18.48 target or 6.00% below today’s $19.66 share price. The 8 months technical chart setup indicates high risk for the $1.59B company. The gap down was reported on Nov, 11 by Barchart.com. If the $18.48 price target is reached, the company will be worth $95.40M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 72,883 shares traded hands or 84.08% up from the average. BMO SP TSX CAPPED COMP IDX ETF (TSE:ZCN) has risen 11.29% since April 7, 2016 and is uptrending. It has outperformed by 5.15% the S&P500.
More notable recent BMO SP TSX CAPPED COMP IDX ETF (TSE:ZCN) news were published by: Etfdailynews.com which released: “Tax Tips for BMO ETF Investors [BMO Equal Weight REITS Index ETF, BMO SP TSX …” on April 08, 2014, also Fool.ca with their article: “Here’s How to Invest in the S&P/TSX Composite â€” And Why You May Not Want To” published on July 24, 2013, Theglobeandmail.com published: “ETFs you should get to know – and those to avoid” on August 24, 2012. More interesting news about BMO SP TSX CAPPED COMP IDX ETF (TSE:ZCN) were released by: Etfdailynews.com and their article: “Finding the Pefect Pair for Tax Loss Selling (VFV, XUS, ZCN, VCN)” published on October 24, 2013 as well as Bnn.ca‘s news article titled: “Larry Berman: A look at quality vs. volatility smart beta strategies” with publication date: October 24, 2016.
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