The stock of BMO EQL WGT US BANK HDGD TO CAD IDX ETF (TSE:ZUB) gapped up by $0.32 today and has $59.31 target or 151.00% above today’s $23.63 share price. The 8 months technical chart setup indicates low risk for the $374.37M company. The gap was reported on Nov, 14 by Barchart.com. If the $59.31 price target is reached, the company will be worth $565.30M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 159,255 shares traded hands or 245.22% up from the average. BMO EQL WGT US BANK HDGD TO CAD IDX ETF (TSE:ZUB) has risen 35.96% since April 8, 2016 and is uptrending. It has outperformed by 30.98% the S&P500.
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