The stock of BMO US PUT WRITE ETF (TSE:ZPW) gapped down by $0.05 today and has $18.60 target or 4.00% below today’s $19.38 share price. The 8 months technical chart setup indicates high risk for the $118.71 million company. The gap down was reported on Nov, 28 by Barchart.com. If the $18.60 price target is reached, the company will be worth $4.75M 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 34,221 shares traded hands or 77.31% up from the average. BMO US PUT WRITE ETF (TSE:ZPW) has risen 4.65% since April 22, 2016 and is uptrending. It has underperformed by 1.36% the S&P500.
More important recent BMO US PUT WRITE ETF (TSE:ZPW) news were published by: Theglobeandmail.com which released: “Canadians are about to get even more choice when it comes to ETFs” on August 10, 2015, also Marketwired.com published article titled: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …”, Theglobeandmail.com published: “Five specialty ETFs give investors room to play” on February 25, 2016. More interesting news about BMO US PUT WRITE ETF (TSE:ZPW) was released by: News.Sys-Con.com and their article: “BMO Asset Management Inc. Announces Cash Distributions for BMO Exchange Traded …” with publication date: November 18, 2016.
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