The stock of BMO EQL WGT US BANK HDGD TO CAD IDX ETF (TSE:ZUB) gapped up by $0.1 today and has $26.28 target or 8.00% above today’s $24.33 share price. The 9 months technical chart setup indicates low risk for the $398.59 million company. The gap was reported on Nov, 30 by Barchart.com. If the $26.28 price target is reached, the company will be worth $31.89M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 25,008 shares traded hands. BMO EQL WGT US BANK HDGD TO CAD IDX ETF (TSE:ZUB) has risen 24.41% since April 26, 2016 and is uptrending. It has outperformed by 19.19% the S&P500.