BMO Covered Call Canadian Banks ETF’s Stock Is Sell After Today’s Gap Down

 BMO Covered Call Canadian Banks ETF's Stock Is Sell After Today's Gap Down

The stock of BMO Covered Call Canadian Banks ETF (TSE:ZWB) gapped down by $0.06 today and has $16.84 target or 6.00% below today’s $17.91 share price. The 5 months technical chart setup indicates high risk for the $1.24B company. The gap down was reported on Nov, 25 by Barchart.com. If the $16.84 price target is reached, the company will be worth $74.40M 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 29,572 shares traded hands. BMO Covered Call Canadian Banks ETF (TSE:ZWB) has risen 9.17% since April 21, 2016 and is uptrending. It has outperformed by 3.76% the S&P500.

More notable recent BMO Covered Call Canadian Banks ETF (TSE:ZWB) news were published by: Theglobeandmail.com which released: “The case against covered call ETFs” on May 23, 2014, also Fool.ca with their article: “How to Get a 5.2% Monthly Dividend Yield From the Canadian Banks” published on July 06, 2015, Theglobeandmail.com published: “Three top ETFs from JC Hood’s John Hood” on January 19, 2016. More interesting news about BMO Covered Call Canadian Banks ETF (TSE:ZWB) were released by: Fool.ca and their article: “BMO S&P/TSX Equal Weight Banks Index ETF: Why You Should Own it” published on September 23, 2016 as well as Business.Financialpost.com‘s news article titled: “Covered call ETFs: Good for income, not return” with publication date: February 10, 2012.

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