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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