The stock of BMO MID CORPORATE BOND INDEX ETF (TSE:ZCM) gapped down by $0.02 today and has $14.92 target or 9.00% below today’s $16.40 share price. The 6 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 $14.92 price target is reached, the company will be worth $105.30 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 14,068 shares traded hands. BMO MID CORPORATE BOND INDEX ETF (TSE:ZCM) has risen 0.98% since April 26, 2016 and is uptrending. It has underperformed by 4.25% the S&P500.
More important recent BMO MID CORPORATE BOND INDEX ETF (TSE:ZCM) news were published by: Fool.ca which released: “Caution Ahead: Why Bonds May Soon Become Much Harder to Manage” on May 12, 2015, also News.Sys-Con.com published article titled: “BMO Asset Management Inc. Announces Cash Distributions for BMO Exchange Traded …”, Marketwired.com published: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …” on November 18, 2015. More interesting news about BMO MID CORPORATE BOND INDEX ETF (TSE:ZCM) was released by: Theglobeandmail.com and their article: “Lipper mutual fund and ETF winners for 2014, based on 3-year returns” with publication date: June 05, 2014.
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