Traders Are Bearish BMO Short Corporate Bond Index ETF After Today’s Gap Down

 Traders Are Bearish BMO Short Corporate Bond Index ETF After Today's Gap Down

The stock of BMO Short Corporate Bond Index ETF (TSE:ZCS) gapped down by $0.01 today and has $14.04 target or 3.00% below today’s $14.47 share price. The 7 months technical chart setup indicates high risk for the $1.34B company. The gap down was reported on Nov, 25 by Barchart.com. If the $14.04 price target is reached, the company will be worth $40.20M 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 16,393 shares traded hands. BMO Short Corporate Bond Index ETF (TSE:ZCS) has declined 0.41% since April 21, 2016 and is downtrending. It has underperformed by 5.82% the S&P500.

More important recent BMO Short Corporate Bond Index ETF (TSE:ZCS) news were published by: News.Sys-Con.com which released: “BMO Asset Management Inc. Announces Cash Distributions for BMO Exchange Traded …” on November 18, 2016, also Theglobeandmail.com published article titled: “BMO cuts annual management fees by more than 50% on some ETFs”, Theglobeandmail.com published: “How safe are short-term bond funds?” on August 30, 2013. More interesting news about BMO Short Corporate Bond Index ETF (TSE:ZCS) was released by: Theglobeandmail.com and their article: “Larry Berman: Why a balanced fund I run currently has very little exposure to …” with publication date: July 18, 2016.

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