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SmarTrend Watching for Potential Rebound in Shares of Bank of Montreal After 1.41% Loss

By Nick Russo

Bank of Montreal (NYSE:BMO) traded in a range yesterday that spanned from a low of $74.56 to a high of $75.49. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $75.35 on volume of 195,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Bank of Montreal on November 21st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $65.78. Since that recommendation, shares of Bank of Montreal have risen 15.0%. We continue to monitor BMO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Bank of Montreal share prices have moved between a 52-week high of $78.00 and a 52-week low of $47.54 and are now trading 57% above that low price at $74.83 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.3%.

Keywords: rebounders Bank of Montreal

Ticker(s): BMO