Could BMO Equal Weight REITS Index ETF Recover After Today’s Gap Down?

 Could BMO Equal Weight REITS Index ETF Recover After Today's Gap Down?

The stock of BMO Equal Weight REITS Index ETF (TSE:ZRE) gapped down by $0.01 today and has $17.62 target or 4.00% below today’s $18.35 share price. The 7 months technical chart setup indicates high risk for the $378.66M company. The gap down was reported on Nov, 25 by Barchart.com. If the $17.62 price target is reached, the company will be worth $15.15M 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 50,502 shares traded hands or 24.21% up from the average. BMO Equal Weight REITS Index ETF (TSE:ZRE) has declined 3.26% since April 21, 2016 and is downtrending. It has underperformed by 8.67% the S&P500.

More notable recent BMO Equal Weight REITS Index ETF (TSE:ZRE) news were published by: Etfdailynews.com which released: “Tax Tips for BMO ETF Investors [BMO Equal Weight REITS Index ETF, BMO SP TSX …” on April 08, 2014, also Business.Financialpost.com with their article: “Battle of the Canadian REIT ETFs” published on October 21, 2011, Marketwired.com published: “BMO Asset Management Inc. Announces Index Changes to Three BMO ETFs” on May 19, 2016. More interesting news about BMO Equal Weight REITS Index ETF (TSE:ZRE) were released by: Business.Financialpost.com and their article: “BMO unveils more Equal Weighted ETFs; Emerging Markets and Real Return Bond ETFs” published on May 26, 2010 as well as Theglobeandmail.com‘s news article titled: “The case for and against real estate ETFs” with publication date: June 28, 2016.

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