Is Selling Stock Like BMO US PUT WRITE ETF After Such Gap Down a Winning Strategy?

 Is Selling Stock Like BMO US PUT WRITE ETF After Such Gap Down a Winning Strategy?

The stock of BMO US PUT WRITE ETF (TSE:ZPW) gapped down by $0.03 today and has $17.48 target or 9.00% below today’s $19.21 share price. The 8 months technical chart setup indicates high risk for the $125.57 million company. The gap down was reported on Dec, 1 by Barchart.com. If the $17.48 price target is reached, the company will be worth $11.30 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 44,052 shares traded hands or 78.76% up from the average. BMO US PUT WRITE ETF (TSE:ZPW) has risen 4.80% since April 27, 2016 and is uptrending. It has underperformed by 1.12% the S&P500.

More important recent BMO US PUT WRITE ETF (TSE:ZPW) news were published by: Theglobeandmail.com which released: “Larry Berman: The true cost of investing in ETFs” on November 30, 2016, also Theglobeandmail.com published article titled: “Canadians are about to get even more choice when it comes to ETFs”, Marketwired.com published: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …” on November 18, 2015. More interesting news about BMO US PUT WRITE ETF (TSE:ZPW) was released by: Theglobeandmail.com and their article: “Five specialty ETFs give investors room to play” with publication date: February 25, 2016.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment