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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