Traders Are Bearish PowerShares S&P SmallCap Energy ETF (PSCE) After The Stock Formed Bearish Ascending Triangle

December 8, 2017 - By Maria Brooks

The stock of PowerShares S&P SmallCap Energy ETF (PSCE) formed an ascending triangle with $12.81 target or 9.00 % below today’s $14.08 share price. The 8 months triangle pattern indicates high risk for the $53.38M company. If the $12.81 price target is reached, the company will be worth $4.80 million less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

The ETF increased 0.86% or $0.12 during the last trading session, reaching $14.08. About 8,214 shares traded. PowerShares S&P SmallCap Energy ETF (NASDAQ:PSCE) has risen 1.17% since December 8, 2016 and is uptrending. It has underperformed by 15.53% the S&P500.

More news for PowerShares S&P SmallCap Energy ETF (NASDAQ:PSCE) were recently published by: Investorplace.com, which released: “Chesapeake Energy Corporation (CHK) Stock Looks Good for a Trade” on September 08, 2017. Investorplace.com‘s article titled: “Trade of the Day: PowerShares S&P Small-Cap Energy Portfolio (PSCE) Stock …” and published on December 16, 2016 is yet another important article.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our free daily email newsletter: