BMO SP 500 HEDGED CAD IDX ETF Gaps Down; Strong Momentum for Sellers

 BMO SP 500 HEDGED CAD IDX ETF Gaps Down; Strong Momentum for Sellers

The stock of BMO SP 500 HEDGED CAD IDX ETF (TSE:ZUE) gapped down by $0.01 today and has $31.22 target or 7.00% below today’s $33.57 share price. The 7 months technical chart setup indicates high risk for the $1.09 billion company. The gap down was reported on Dec, 1 by Barchart.com. If the $31.22 price target is reached, the company will be worth $76.30 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 24,377 shares traded hands or 2.11% up from the average. BMO SP 500 HEDGED CAD IDX ETF (TSE:ZUE) has risen 5.49% since April 27, 2016 and is uptrending. It has underperformed by 0.43% the S&P500.

More notable recent BMO SP 500 HEDGED CAD IDX ETF (TSE:ZUE) news were published by: Theglobeandmail.com which released: “US ETFs: Top picks for Canadian investors” on December 08, 2012, also Business.Financialpost.com with their article: “6 issues that will affect your fund investments in 2015” published on December 19, 2014, Theglobeandmail.com published: “BMO cuts annual management fees by more than 50% on some ETFs” on June 15, 2016. More interesting news about BMO SP 500 HEDGED CAD IDX ETF (TSE:ZUE) were released by: Fool.ca and their article: “How to Build an ETF Portfolio” published on May 12, 2014 as well as Marketwired.com‘s news article titled: “BMO Asset Management Inc. Announces Cash Distributions for BMO Exchange Traded …” with publication date: March 18, 2016.

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