The stock of BMO MONTHLY INCOME ETF (TSE:ZMI) gapped down by $0.02 today and has $15.36 target or 3.00% below today’s $15.84 share price. The 7 months technical chart setup indicates high risk for the $79.91M company. The gap down was reported on Dec, 1 by Barchart.com. If the $15.36 price target is reached, the company will be worth $2.40M 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 16,277 shares traded hands or 292.60% up from the average. BMO MONTHLY INCOME ETF (TSE:ZMI) has risen 1.92% since April 27, 2016 and is uptrending. It has underperformed by 4.00% the S&P500.
More notable recent BMO MONTHLY INCOME ETF (TSE:ZMI) news were published by: Marketwired.com which released: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …” on November 18, 2015, also Theglobeandmail.com with their article: “The case against covered call ETFs” published on May 23, 2014, Fool.ca published: “How to Get a 5.2% Monthly Dividend Yield From the Canadian Banks” on July 06, 2015. More interesting news about BMO MONTHLY INCOME ETF (TSE:ZMI) were released by: Fool.ca and their article: “The 5 Best Dividend ETFs for Investors” published on September 11, 2013 as well as Theglobeandmail.com‘s news article titled: “Income seekers, here’s a low-cost ETF portfolio” with publication date: March 28, 2014.
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