The stock of BMO MSCI EAFE IDX ETF (TSE:ZEA) gapped down by $0.06 today and has $15.29 target or 4.00% below today’s $15.93 share price. The 6 months technical chart setup indicates high risk for the $1.07B company. The gap down was reported on Dec, 1 by Barchart.com. If the $15.29 price target is reached, the company will be worth $42.80M 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 16,470 shares traded hands or 60.56% up from the average. BMO MSCI EAFE IDX ETF (TSE:ZEA) has risen 5.15% since April 29, 2016 and is uptrending. It has underperformed by 0.78% the S&P500.
More notable recent BMO MSCI EAFE IDX ETF (TSE:ZEA) news were published by: Theglobeandmail.com which released: “Three top picks from JC Hood Investment’s John Hood” on May 09, 2015, also Theglobeandmail.com with their article: “Three top ETF picks from JC Hood Investment’s John Hood” published on April 13, 2015, Business.Financialpost.com published: “Bid-ask spreads and market coverage growing in importance as ETF fees drop” on April 28, 2014. More interesting news about BMO MSCI EAFE IDX ETF (TSE:ZEA) were released by: Marketwired.com and their article: “BMO Asset Management Inc. Announces Cash Distributions for BMO Exchange Traded …” published on March 18, 2016 as well as Marketwired.com‘s news article titled: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …” with publication date: November 18, 2015.
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