What’s BMO EQL WGT US BANK HDGD TO CAD IDX ETF Upside After Today’s Gap Up?

 What's BMO EQL WGT US BANK HDGD TO CAD IDX ETF Upside After Today's Gap Up?

The stock of BMO EQL WGT US BANK HDGD TO CAD IDX ETF (TSE:ZUB) gapped up by $0.04 today and has $26.79 target or 8.00% above today’s $24.81 share price. The 8 months technical chart setup indicates low risk for the $406.78 million company. The gap was reported on Dec, 1 by Barchart.com. If the $26.79 price target is reached, the company will be worth $32.54 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 47,881 shares traded hands. BMO EQL WGT US BANK HDGD TO CAD IDX ETF (TSE:ZUB) has risen 26.38% since April 27, 2016 and is uptrending. It has outperformed by 20.45% the S&P500.

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