The stock of BMO HIGH YLD US CORP BND HDG CAD IDX ETF (TSE:ZHY) gapped down by $0.03 today and has $13.61 target or 4.00% below today’s $14.18 share price. The 6 months technical chart setup indicates high risk for the $1.15B company. The gap down was reported on Nov, 25 by Barchart.com. If the $13.61 price target is reached, the company will be worth $46.00 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 11,868 shares traded hands. BMO HIGH YLD US CORP BND HDG CAD IDX ETF (TSE:ZHY) has risen 3.25% since April 21, 2016 and is uptrending. It has underperformed by 2.16% the S&P500.
More recent BMO HIGH YLD US CORP BND HDG CAD IDX ETF (TSE:ZHY) news were published by: Theglobeandmail.com which released: “Eye on Shorts: What bearish investors are betting against” on March 23, 2016. Also Theglobeandmail.com published the news titled: “The Globe and Mail” on July 11, 2010. Theglobeandmail.com‘s news article titled: “Natural gas ETF gets some A/C relief” with publication date: July 10, 2012 was also an interesting one.
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