The stock of BMO LONG CORPORATE BOND INDEX ETF (TSE:ZLC) gapped down by $0.16 today and has $15.58 target or 13.00% below today’s $17.91 share price. The 8 months technical chart setup indicates high risk for the $283.65M company. The gap down was reported on Nov, 14 by Barchart.com. If the $15.58 price target is reached, the company will be worth $36.87M 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 30,469 shares traded hands or 87.57% up from the average. BMO LONG CORPORATE BOND INDEX ETF (TSE:ZLC) has risen 0.33% since April 8, 2016 and is uptrending. It has underperformed by 4.65% the S&P500.
More notable recent BMO LONG CORPORATE BOND INDEX ETF (TSE:ZLC) news were published by: Marketwired.com which released: “BMO Asset Management Inc. Announces Cash Distributions for BMO Exchange Traded …” on September 20, 2016, also Marketwired.com with their article: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …” published on November 18, 2015, Theglobeandmail.com published: “Beware the risk in bond funds” on July 10, 2013. More interesting news about BMO LONG CORPORATE BOND INDEX ETF (TSE:ZLC) were released by: Fool.ca and their article: “Caution Ahead: Why Bonds May Soon Become Much Harder to Manage” published on May 12, 2015 as well as Theglobeandmail.com‘s news article titled: “Eye on Shorts: What bearish investors are betting against” with publication date: March 21, 2016.
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