The stock of BMO SP TSX EQL WEIGHT OIL GAS INDEX ETF (TSE:ZEO) hit a new 52-week high and has $13.43 target or 7.00% above today’s $12.55 share price. The 6 months bullish chart indicates low risk for the $212.68 million company. The 1-year high was reported on Nov, 24 by Barchart.com. If the $13.43 price target is reached, the company will be worth $14.89M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The ETF last traded at $12.55 per share. It is down 12.86% since April 20, 2016 and is uptrending. It has outperformed by 7.45% the S&P500.
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