The stock of BMO US HIGH DIVIDEND COVERED CALL ETF (TSE:ZWH) gapped down by $0.04 today and has $18.20 target or 8.00% below today’s $19.78 share price. The 8 months technical chart setup indicates high risk for the $491.75M company. The gap down was reported on Dec, 1 by Barchart.com. If the $18.20 price target is reached, the company will be worth $39.34M 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 68,955 shares traded hands or 78.78% up from the average. BMO US HIGH DIVIDEND COVERED CALL ETF (TSE:ZWH) has risen 8.97% since April 29, 2016 and is uptrending. It has outperformed by 3.04% the S&P500.
More recent BMO US HIGH DIVIDEND COVERED CALL ETF (TSE:ZWH) news were published by: Theglobeandmail.com which released: “The case against covered call ETFs” on May 23, 2014. Also Theglobeandmail.com published the news titled: “Larry Berman: The true cost of investing in ETFs” on November 30, 2016. Marketwired.com‘s news article titled: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …” with publication date: November 18, 2015 was also an interesting one.
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