Bearish Gap Down for BMO US PUT WRITE ETF After Worse Fundamentals

 Bearish Gap Down for BMO US PUT WRITE ETF After Worse Fundamentals

The stock of BMO US PUT WRITE ETF (TSE:ZPW) gapped down by $0.05 today and has $17.81 target or 9.00% below today’s $19.57 share price. The 6 months technical chart setup indicates high risk for the $117.17M company. The gap down was reported on Nov, 25 by Barchart.com. If the $17.81 price target is reached, the company will be worth $10.55 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 23,850 shares traded hands or 30.76% up from the average. BMO US PUT WRITE ETF (TSE:ZPW) has risen 5.06% since April 21, 2016 and is uptrending. It has underperformed by 0.35% the S&P500.

More notable recent BMO US PUT WRITE ETF (TSE:ZPW) news were published by: Theglobeandmail.com which released: “Canadians are about to get even more choice when it comes to ETFs” on August 10, 2015, also Marketwired.com with their article: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …” published on November 18, 2015, Theglobeandmail.com published: “Five specialty ETFs give investors room to play” on February 25, 2016. More interesting news about BMO US PUT WRITE ETF (TSE:ZPW) were released by: News.Sys-Con.com and their article: “BMO Asset Management Inc. Announces Cash Distributions for BMO Exchange Traded …” published on November 18, 2016 as well as Theglobeandmail.com‘s news article titled: “The case against covered call ETFs” with publication date: May 23, 2014.

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