What Will Happen to BMO US HIGH DIVIDEND COVERED CALL ETF Next? The Stock Just Gapped Down

 What Will Happen to BMO US HIGH DIVIDEND COVERED CALL ETF Next? The Stock Just Gapped Down

The stock of BMO US HIGH DIVIDEND COVERED CALL ETF (TSE:ZWH) gapped down by $0.04 today and has $18.06 target or 9.00% below today’s $19.85 share price. The 8 months technical chart setup indicates high risk for the $491.75M company. The gap down was reported on Dec, 1 by Barchart.com. If the $18.06 price target is reached, the company will be worth $44.26 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 48,076 shares traded hands or 24.65% up from the average. BMO US HIGH DIVIDEND COVERED CALL ETF (TSE:ZWH) has risen 8.97% since April 29, 2016 and is uptrending. It has outperformed by 3.04% the S&P500.

More recent BMO US HIGH DIVIDEND COVERED CALL ETF (TSE:ZWH) news were published by: Theglobeandmail.com which released: “The case against covered call ETFs” on May 23, 2014. Also Theglobeandmail.com published the news titled: “Larry Berman: The true cost of investing in ETFs” on November 30, 2016. Marketwired.com‘s news article titled: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …” with publication date: November 18, 2015 was also an interesting one.

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