The stock of BMO US HIGH DIVIDEND COVERED CALL ETF (TSE:ZWH) gapped down by $0.05 today and has $19.27 target or 4.00% below today’s $20.07 share price. The 9 months technical chart setup indicates high risk for the $493.82 million company. The gap down was reported on Nov, 28 by Barchart.com. If the $19.27 price target is reached, the company will be worth $19.75 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 14,931 shares traded hands. BMO US HIGH DIVIDEND COVERED CALL ETF (TSE:ZWH) has risen 9.61% since April 26, 2016 and is uptrending. It has outperformed by 3.60% the S&P500.
More important recent BMO US HIGH DIVIDEND COVERED CALL ETF (TSE:ZWH) news were published by: Theglobeandmail.com which released: “The case against covered call ETFs” on May 23, 2014, also Marketwired.com published article titled: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …”, Theglobeandmail.com published: “Nine top ETF picks: ‘The US recovery is real'” on August 25, 2014. More interesting news about BMO US HIGH DIVIDEND COVERED CALL ETF (TSE:ZWH) was released by: Theglobeandmail.com and their article: “Larry Berman: A defensive tack for the late stages of market cycle” with publication date: September 04, 2016.
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