The stock of BMO HIGH YLD US CORP BND HDG CAD IDX ETF (TSE:ZHY) gapped up by $0.1 today and has $20.45 target or 45.00% above today’s $14.10 share price. The 7 months technical chart setup indicates low risk for the $1.13B company. The gap was reported on Nov, 15 by Barchart.com. If the $20.45 price target is reached, the company will be worth $508.50M 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 17,850 shares traded hands. BMO HIGH YLD US CORP BND HDG CAD IDX ETF (TSE:ZHY) has risen 2.96% since April 11, 2016 and is uptrending. It has underperformed by 0.97% the S&P500.
More news for BMO HIGH YLD US CORP BND HDG CAD IDX ETF (TSE:ZHY) were recently published by: Theglobeandmail.com, which released: “Eye on Shorts: What bearish investors are betting against” on March 21, 2016. Theglobeandmail.com‘s article titled: “The Globe and Mail” and published on July 11, 2010 is yet another important article.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.