The stock of BMO MID PROVINCIAL BOND INDEX ETF (TSE:ZMP) gapped down by $0.06 today and has $14.56 target or 4.00% below today’s $15.17 share price. The 5 months technical chart setup indicates high risk for the $626.74M company. The gap down was reported on Dec, 1 by Barchart.com. If the $14.56 price target is reached, the company will be worth $25.07M 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 21,650 shares traded hands or 5.78% up from the average. BMO MID PROVINCIAL BOND INDEX ETF (TSE:ZMP) has declined 0.97% since April 29, 2016 and is downtrending. It has underperformed by 6.90% the S&P500.
More notable recent BMO MID PROVINCIAL BOND INDEX ETF (TSE:ZMP) news were published by: News.Sys-Con.com which released: “BMO Asset Management Inc. Announces Cash Distributions for BMO Exchange Traded …” on November 18, 2016, also Theglobeandmail.com with their article: “Eye on Shorts: What bearish investors are betting against” published on March 23, 2016, Marketwired.com published: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …” on November 18, 2015. More interesting news about BMO MID PROVINCIAL BOND INDEX ETF (TSE:ZMP) were released by: Theglobeandmail.com and their article: “Bond ETFs confuse you? Here’s a simple guide” published on December 16, 2011 as well as Fool.ca‘s news article titled: “Caution Ahead: Why Bonds May Soon Become Much Harder to Manage” with publication date: May 12, 2015.
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