Bearish Gap Down for BMO LONG PROVINCIAL BOND INDEX ETF After Worse Fundamentals

 Bearish Gap Down for BMO LONG PROVINCIAL BOND INDEX ETF After Worse Fundamentals

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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