What’s BMO SPTSX EQL WGT GLB METAL HED CAD ETF Upside After Today’s Gap Up?

 What's BMO SPTSX EQL WGT GLB METAL HED CAD ETF Upside After Today's Gap Up?

The stock of BMO SPTSX EQL WGT GLB METAL HED CAD ETF (TSE:ZMT) gapped up by $0.05 today and has $10.51 target or 4.00% above today’s $10.11 share price. The 6 months technical chart setup indicates low risk for the $112.73 million company. The gap was reported on Nov, 24 by Barchart.com. If the $10.51 price target is reached, the company will be worth $4.51M 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 22,928 shares traded hands or 29.92% up from the average. BMO SPTSX EQL WGT GLB METAL HED CAD ETF (TSE:ZMT) has risen 36.85% since April 20, 2016 and is uptrending. It has outperformed by 31.44% the S&P500.

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