The stock of BMO EQUAL WEIGHT US BANK IDX ETF (TSE:ZBK) gapped up by $0.05 today and has $23.49 target or 3.00% above today’s $22.81 share price. The 7 months technical chart setup indicates low risk for the $608.81M company. The gap was reported on Nov, 23 by Barchart.com. If the $23.49 price target is reached, the company will be worth $18.26 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 20,229 shares traded hands. BMO EQUAL WEIGHT US BANK IDX ETF (TSE:ZBK) has risen 33.98% since April 21, 2016 and is uptrending. It has outperformed by 28.66% the S&P500.
More notable recent BMO EQUAL WEIGHT US BANK IDX ETF (TSE:ZBK) news were published by: Theglobeandmail.com which released: “US banks boost ETF to top spot in 2012” on January 07, 2013, also Theglobeandmail.com with their article: “ETFs you should get to know – and those to avoid” published on August 24, 2012, Theglobeandmail.com published: “Top three ETF picks from Shaunessy Investment’s Terry Shaunessy” on March 15, 2016. More interesting news about BMO EQUAL WEIGHT US BANK IDX ETF (TSE:ZBK) were released by: Marketwired.com and their article: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …” published on November 18, 2015 as well as Business.Financialpost.com‘s news article titled: “BMO unveils more Equal Weighted ETFs; Emerging Markets and Real Return Bond ETFs” with publication date: May 26, 2010.
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