The stock of BMO AGGREGATE BOND INDEX ETF (TSE:ZAG) gapped down by $0.06 today and has $14.42 target or 8.00% below today’s $15.67 share price. The 7 months technical chart setup indicates high risk for the $2.12B company. The gap down was reported on Dec, 1 by Barchart.com. If the $14.42 price target is reached, the company will be worth $169.60M 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 35,522 shares traded hands. BMO AGGREGATE BOND INDEX ETF (TSE:ZAG) has declined 0.88% since April 27, 2016 and is downtrending. It has underperformed by 6.81% the S&P500.
More news for BMO AGGREGATE BOND INDEX ETF (TSE:ZAG) were recently published by: Theglobeandmail.com, which released: “BMO cuts annual management fees by more than 50% on some ETFs” on June 15, 2016. Theglobeandmail.com‘s article titled: “In a rising interest rate world, should you own bonds or bond funds?” and published on July 02, 2013 is yet another important article.
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