Is Buying Stock Like First Trust Strategic Income ETF (FDIV) After This Descending Triangle Pattern a Winning Strategy?

December 8, 2017 - By Adrian Erickson

The stock of First Trust Strategic Income ETF (FDIV) formed a descending triangle with $53.01 target or 4.00 % above today’s $50.97 share price. The 9 months triangle pattern indicates low risk for the $96.80 million company. If the $53.01 price target is reached, the company will be worth $3.87M more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The ETF increased 0.17% or $0.09 during the last trading session, reaching $50.97. About 5,528 shares traded. First Trust Strategic Income ETF (NASDAQ:FDIV) has risen 4.09% since December 8, 2016 and is uptrending. It has underperformed by 12.61% the S&P500.

More notable recent First Trust Strategic Income ETF (NASDAQ:FDIV) news were published by: Streetinsider.com which released: “Form 40-17G/A FIRST TRUST EXCHANGE-TRA” on November 09, 2017, also Prnewswire.com with their article: “American Realty Capital Properties Completes Acquisition of American Realty …” published on January 03, 2014, Seekingalpha.com published: “Overpricing Of The OIL ETF Presents An Arbitrage Opportunity” on February 16, 2016. More interesting news about First Trust Strategic Income ETF (NASDAQ:FDIV) were released by: Marketwatch.com and their article: “Stock-market investor who sank Valeant thinks a bitcoin fund is the ‘most …” published on August 31, 2017 as well as Gurufocus.com‘s news article titled: “Beat the Market With a Water ETF” with publication date: February 23, 2017.

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