The stock of BMO LONG PROVINCIAL BOND INDEX ETF (TSE:ZPL) gapped down by $0.24 today and has $14.33 target or 8.00% below today’s $15.58 share price. The 5 months technical chart setup indicates high risk for the $565.82M company. The gap down was reported on Nov, 14 by Barchart.com. If the $14.33 price target is reached, the company will be worth $45.27M 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 203,997 shares traded hands or 1269.48% up from the average. BMO LONG PROVINCIAL BOND INDEX ETF (TSE:ZPL) has risen 0.76% since April 12, 2016 and is uptrending. It has underperformed by 4.23% the S&P500.
More notable recent BMO LONG PROVINCIAL BOND INDEX ETF (TSE:ZPL) news were published by: Bloomberg.com which released: “Yield Hunt Has Canada Long-Bond ETFs Leading Record Flow Growth” on July 18, 2016, also Marketwired.com with their article: “BMO Asset Management Inc. Announces Cash Distributions for BMO Exchange Traded …” published on October 13, 2016, Marketwired.com published: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …” on November 18, 2015. More interesting news about BMO LONG PROVINCIAL BOND INDEX ETF (TSE:ZPL) were released by: Theglobeandmail.com and their article: “Eye on Shorts: What bearish investors are betting against” published on August 04, 2016 as well as Fool.ca‘s news article titled: “Caution Ahead: Why Bonds May Soon Become Much Harder to Manage” with publication date: May 12, 2015.
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