The stock of BMO MID TERM US IG CORP BOND IDX ETF (TSE:ZIC) gapped down by $0.1 today and has $17.04 target or 9.00% below today’s $18.72 share price. The 6 months technical chart setup indicates high risk for the $1.16B company. The gap down was reported on Dec, 1 by Barchart.com. If the $17.04 price target is reached, the company will be worth $104.40 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 63,975 shares traded hands or 250.45% up from the average. BMO MID TERM US IG CORP BOND IDX ETF (TSE:ZIC) has risen 3.90% since April 27, 2016 and is uptrending. It has underperformed by 2.02% the S&P500.
More notable recent BMO MID TERM US IG CORP BOND IDX ETF (TSE:ZIC) news were published by: News.Sys-Con.com which released: “BMO Asset Management Inc. Announces Cash Distributions for BMO Exchange Traded …” on November 18, 2016, also Marketwired.com with their article: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …” published on November 18, 2015, Theglobeandmail.com published: “Bond ETFs confuse you? Here’s a simple guide” on December 16, 2011. More interesting news about BMO MID TERM US IG CORP BOND IDX ETF (TSE:ZIC) were released by: Theglobeandmail.com and their article: “Eye on Shorts: What bearish investors are betting against” published on August 18, 2016 as well as Fool.ca‘s news article titled: “Caution Ahead: Why Bonds May Soon Become Much Harder to Manage” with publication date: May 12, 2015.
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