The stock of BMO Long Federal Bond Index ETF (TSE:ZFL) gapped down by $0.27 today and has $16.11 target or 10.00% below today’s $17.90 share price. The 9 months technical chart setup indicates high risk for the $240.50 million company. The gap down was reported on Nov, 14 by Barchart.com. If the $16.11 price target is reached, the company will be worth $24.05 million 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 15,293 shares traded hands or 67.19% up from the average. BMO Long Federal Bond Index ETF (TSE:ZFL) has declined 2.31% since April 8, 2016 and is downtrending. It has underperformed by 7.29% the S&P500.
More notable recent BMO Long Federal Bond Index ETF (TSE:ZFL) news were published by: Marketwired.com which released: “BMO Asset Management Inc. Announces Cash Distributions for BMO Exchange Traded …” on September 20, 2016, also Bloomberg.com with their article: “Yield Hunt Has Canada Long-Bond ETFs Leading Record Flow Growth” published on July 18, 2016, Marketwired.com published: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …” on November 18, 2015. More interesting news about BMO Long Federal Bond Index ETF (TSE:ZFL) were released by: Business.Financialpost.com and their article: “BMO unveils more Equal Weighted ETFs; Emerging Markets and Real Return Bond ETFs” published on May 26, 2010 as well as Theglobeandmail.com‘s news article titled: “The Permanent Portfolio: the only investment plan you’ll ever need?” with publication date: August 09, 2013.
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