The stock of BMO MID TERM US IG CORP BOND IDX ETF (TSE:ZIC) gapped down by $0.02 today and has $17.59 target or 7.00% below today’s $18.91 share price. The 8 months technical chart setup indicates high risk for the $1.17 billion company. The gap down was reported on Nov, 30 by Barchart.com. If the $17.59 price target is reached, the company will be worth $81.90 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 14,404 shares traded hands. BMO MID TERM US IG CORP BOND IDX ETF (TSE:ZIC) has risen 5.59% since April 26, 2016 and is uptrending. It has outperformed by 0.37% the S&P500.
More notable recent BMO MID TERM US IG CORP BOND IDX ETF (TSE:ZIC) news were published by: Marketwired.com which released: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …” on November 18, 2015, also News.Sys-Con.com with their article: “BMO Asset Management Inc. Announces Cash Distributions for BMO Exchange Traded …” published on November 18, 2016, Theglobeandmail.com published: “Eye on Shorts: What bearish investors are betting against” on August 18, 2016. More interesting news about BMO MID TERM US IG CORP BOND IDX ETF (TSE:ZIC) were released by: Fool.ca and their article: “Caution Ahead: Why Bonds May Soon Become Much Harder to Manage” published on May 12, 2015 as well as Business.Financialpost.com‘s news article titled: “6 issues that will affect your fund investments in 2015” with publication date: December 19, 2014.
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