Some Traders Are Very Bearish on BMO LONG CORPORATE BOND INDEX ETF After Today’s Gap Down

 Some Traders Are Very Bearish on BMO LONG CORPORATE BOND INDEX ETF After Today's Gap Down

The stock of BMO LONG CORPORATE BOND INDEX ETF (TSE:ZLC) gapped down by $0.06 today and has $17.09 target or 4.00% below today’s $17.80 share price. The 7 months technical chart setup indicates high risk for the $273.80M company. The gap down was reported on Dec, 1 by Barchart.com. If the $17.09 price target is reached, the company will be worth $10.95M 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 25,448 shares traded hands or 69.87% up from the average. BMO LONG CORPORATE BOND INDEX ETF (TSE:ZLC) has declined 0.50% since April 27, 2016 and is downtrending. It has underperformed by 6.42% the S&P500.

More important recent BMO LONG CORPORATE BOND INDEX ETF (TSE:ZLC) 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 Marketwired.com published article titled: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …”, Fool.ca published: “Caution Ahead: Why Bonds May Soon Become Much Harder to Manage” on May 12, 2015. More interesting news about BMO LONG CORPORATE BOND INDEX ETF (TSE:ZLC) was released by: Theglobeandmail.com and their article: “Beware the risk in bond funds” with publication date: July 10, 2013.

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