The stock of BMO SP TSX EQUAL WEIGHT BANKS INDEX ETF (TSE:ZEB) gapped up by $0.03 today and has $35.66 target or 40.00% above today’s $25.47 share price. The 5 months technical chart setup indicates low risk for the $903.26M company. The gap was reported on Nov, 21 by Barchart.com. If the $35.66 price target is reached, the company will be worth $361.30 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 1.21 million shares traded hands or 495.19% up from the average. BMO SP TSX EQUAL WEIGHT BANKS INDEX ETF (TSE:ZEB) has risen 10.75% since April 15, 2016 and is uptrending. It has outperformed by 6.89% the S&P500.
More news for BMO SP TSX EQUAL WEIGHT BANKS INDEX ETF (TSE:ZEB) were recently published by: Fool.ca, which released: “BMO S&P/TSX Equal Weight Banks Index ETF: Why You Should Own it” on September 23, 2016. Fool.ca‘s article titled: “Picking Banks: Exchange-Traded Funds or Single Stock Purchases?” and published on September 24, 2015 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.