The stock of BMO MID FEDERAL BOND INDEX ETF (TSE:ZFM) gapped down by $0.14 today and has $15.57 target or 7.00% below today’s $16.74 share price. The 7 months technical chart setup indicates high risk for the $637.20 million company. The gap down was reported on Nov, 14 by Barchart.com. If the $15.57 price target is reached, the company will be worth $44.60 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 31,651 shares traded hands or 30.69% up from the average. BMO MID FEDERAL BOND INDEX ETF (TSE:ZFM) has declined 0.88% since April 8, 2016 and is downtrending. It has underperformed by 5.86% the S&P500.
More notable recent BMO MID FEDERAL BOND INDEX ETF (TSE:ZFM) news were published by: Marketwired.com which released: “BMO Asset Management Inc. Announces Cash Distributions for BMO Exchange Traded …” on September 20, 2016, also Fool.ca with their article: “Caution Ahead: Why Bonds May Soon Become Much Harder to Manage” published on May 12, 2015, Marketwired.com published: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …” on November 18, 2015. More interesting news about BMO MID FEDERAL BOND INDEX ETF (TSE:ZFM) were released by: Theglobeandmail.com and their article: “Canadian robo-advisers plug into socially responsible investing” published on March 24, 2016 as well as Theglobeandmail.com‘s news article titled: “Eye on Shorts: What bearish investors are betting against” with publication date: December 03, 2015.
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