The stock of BMO Equal Weight REITS Index ETF (TSE:ZRE) gapped up by $0.01 today and has $32.81 target or 80.00% above today’s $18.23 share price. The 5 months technical chart setup indicates low risk for the $371.29 million company. The gap was reported on Nov, 17 by Barchart.com. If the $32.81 price target is reached, the company will be worth $297.03M 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 18,440 shares traded hands. BMO Equal Weight REITS Index ETF (TSE:ZRE) has declined 4.88% since April 13, 2016 and is downtrending. It has underperformed by 9.51% the S&P500.
More notable recent BMO Equal Weight REITS Index ETF (TSE:ZRE) news were published by: Etfdailynews.com which released: “Tax Tips for BMO ETF Investors [BMO Equal Weight REITS Index ETF, BMO SP TSX …” on April 08, 2014, also Business.Financialpost.com with their article: “Battle of the Canadian REIT ETFs” published on October 21, 2011, Marketwired.com published: “BMO Asset Management Inc. Announces Index Changes to Three BMO ETFs” on May 19, 2016. More interesting news about BMO Equal Weight REITS Index ETF (TSE:ZRE) 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 case for and against real estate ETFs” with publication date: June 28, 2016.
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