The stock of BMO EQUAL WEIGHT US BANK IDX ETF (TSE:ZBK) gapped down by $0.05 today and has $21.83 target or 3.00% below today’s $22.50 share price. The 8 months technical chart setup indicates high risk for the $622.14M company. The gap down was reported on Nov, 28 by Barchart.com. If the $21.83 price target is reached, the company will be worth $18.66M 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 49,015 shares traded hands or 26.61% up from the average. BMO EQUAL WEIGHT US BANK IDX ETF (TSE:ZBK) has risen 35.29% since April 26, 2016 and is uptrending. It has outperformed by 29.28% the S&P500.
More recent BMO EQUAL WEIGHT US BANK IDX ETF (TSE:ZBK) news were published by: Theglobeandmail.com which released: “US banks boost ETF to top spot in 2012” on January 07, 2013. Also Theglobeandmail.com published the news titled: “ETFs you should get to know – and those to avoid” on August 24, 2012. Marketwired.com‘s news article titled: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …” with publication date: November 18, 2015 was also an interesting one.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.