Is Selling BMO NASDAQ 100 HEDGED TO CAD INDEX ETF Here a Winning Strategy? The Stock Just Gapped Down

 Is Selling BMO NASDAQ 100 HEDGED TO CAD INDEX ETF Here a Winning Strategy? The Stock Just Gapped Down

The stock of BMO NASDAQ 100 HEDGED TO CAD INDEX ETF (TSE:ZQQ) gapped down by $0.15 today and has $33.26 target or 9.00% below today’s $36.55 share price. The 5 months technical chart setup indicates high risk for the $239.27M company. The gap down was reported on Dec, 1 by Barchart.com. If the $33.26 price target is reached, the company will be worth $21.53 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 10,726 shares traded hands. BMO NASDAQ 100 HEDGED TO CAD INDEX ETF (TSE:ZQQ) has risen 9.92% since April 27, 2016 and is uptrending. It has outperformed by 4.00% the S&P500.

More notable recent BMO NASDAQ 100 HEDGED TO CAD INDEX ETF (TSE:ZQQ) news were published by: Theglobeandmail.com which released: “Three top ETF picks from JC Hood Investment’s John Hood” on February 18, 2015, also Marketwatch.com with their article: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …” published on November 18, 2016, Theglobeandmail.com published: “Tech ETFs: Few choices in Canada, plenty in the US” on April 08, 2010. More interesting news about BMO NASDAQ 100 HEDGED TO CAD INDEX ETF (TSE:ZQQ) were released by: Theglobeandmail.com and their article: “Nasdaq 100-mimicking ETF about to enter its seasonal sweet spot” published on December 17, 2013 as well as Theglobeandmail.com‘s news article titled: “The top Canadian ETF needs tech to stay relevant” with publication date: February 08, 2013.

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