The stock of BMO US HIGH DIVIDEND COVERED CALL ETF (TSE:ZWH) gapped up by $0.04 today and has $20.86 target or 3.00% above today’s $20.25 share price. The 5 months technical chart setup indicates low risk for the $491.63 million company. The gap was reported on Nov, 24 by Barchart.com. If the $20.86 price target is reached, the company will be worth $14.75M 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 12,752 shares traded hands. BMO US HIGH DIVIDEND COVERED CALL ETF (TSE:ZWH) has risen 8.31% since April 22, 2016 and is uptrending. It has outperformed by 2.90% the S&P500.
More news for BMO US HIGH DIVIDEND COVERED CALL ETF (TSE:ZWH) were recently published by: Theglobeandmail.com, which released: “The case against covered call ETFs” on May 23, 2014. Marketwired.com‘s article titled: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …” and published on November 18, 2015 is yet another important article.
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