After Today’s Gap Up, Is BMO AGGREGATE BOND INDEX ETF’s Near-Term Analysis Positive

 After Today's Gap Up, Is BMO AGGREGATE BOND INDEX ETF's Near Term Analysis Positive

The stock of BMO AGGREGATE BOND INDEX ETF (TSE:ZAG) gapped up by $0.01 today and has $22.31 target or 41.00% above today’s $15.82 share price. The 8 months technical chart setup indicates low risk for the $2.04B company. The gap was reported on Nov, 16 by Barchart.com. If the $22.31 price target is reached, the company will be worth $836.40 million 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 105,355 shares traded hands or 136.03% up from the average. BMO AGGREGATE BOND INDEX ETF (TSE:ZAG) has declined 1.00% since April 12, 2016 and is downtrending. It has underperformed by 5.69% the S&P500.

Another recent and important BMO AGGREGATE BOND INDEX ETF (TSE:ZAG) news was published by Theglobeandmail.com which published an article titled: “BMO cuts annual management fees by more than 50% on some ETFs” on June 15, 2016.

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