Bullish Gap Up for BMO Junior Oil Index ETF After Better Fundamentals

 Bullish Gap Up for BMO Junior Oil Index ETF After Better Fundamentals

The stock of BMO Junior Oil Index ETF (TSE:ZJO) gapped up by $0.47 today and has $20.02 target or 9.00% above today’s $18.37 share price. The 7 months technical chart setup indicates low risk for the $50.06 million company. The gap was reported on Dec, 1 by Barchart.com. If the $20.02 price target is reached, the company will be worth $4.51M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 12,606 shares traded hands or 166.29% up from the average. BMO Junior Oil Index ETF (TSE:ZJO) has risen 24.03% since April 27, 2016 and is uptrending. It has outperformed by 18.10% the S&P500.

More notable recent BMO Junior Oil Index ETF (TSE:ZJO) news were published by: Theglobeandmail.com which released: “ETFs to ride the Canadian energy sector roller coaster” on March 18, 2011, also Business.Financialpost.com with their article: “BMO unveils more Equal Weighted ETFs; Emerging Markets and Real Return Bond ETFs” published on May 26, 2010, Theglobeandmail.com published: “An easy way to play complex sectors” on February 11, 2011. More interesting news about BMO Junior Oil Index ETF (TSE:ZJO) were released by: Business.Financialpost.com and their article: “Getting Cozy with junior oil & gas” published on March 25, 2011 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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