What Next for Duff & Phelps Global Utility Income Fund Inc. (DPG) After Forming Bearish Wedge Down Chart Pattern?

December 7, 2017 - By Louis Casey

Investors sentiment decreased to 0.95 in Q2 2017. Its down 0.35, from 1.3 in 2017Q1. It fall, as 10 investors sold Duff & Phelps Global Utility Income Fund Inc. shares while 12 reduced holdings. 8 funds opened positions while 13 raised stakes. 4.56 million shares or 11.73% less from 5.17 million shares in 2017Q1 were reported.
Wells Fargo And Com Mn holds 0% of its portfolio in Duff & Phelps Global Utility Income Fund Inc. (NYSE:DPG) for 584,167 shares. 770 are held by Next Inc. Citigroup invested in 8,718 shares or 0% of the stock. Retail Bank Of Montreal Can invested in 0% or 15,629 shares. Moreover, Janney Montgomery Scott Ltd Liability Corporation has 0.01% invested in Duff & Phelps Global Utility Income Fund Inc. (NYSE:DPG) for 51,344 shares. Millennium Management Ltd Liability Corporation reported 17,350 shares. Brown Advisory invested in 0% or 15,000 shares. Baystate Wealth Mgmt Limited Liability Co holds 0.01% or 2,500 shares. Royal Bancshares Of Canada has 172,733 shares. Comml Bank Of America De stated it has 0% in Duff & Phelps Global Utility Income Fund Inc. (NYSE:DPG). Commonwealth Equity accumulated 17,437 shares or 0% of the stock. National Bank Of Nova Scotia stated it has 0.01% in Duff & Phelps Global Utility Income Fund Inc. (NYSE:DPG). Benjamin F Edwards And holds 0.01% of its portfolio in Duff & Phelps Global Utility Income Fund Inc. (NYSE:DPG) for 3,000 shares. Moreover, Guggenheim Cap Llc has 0.02% invested in Duff & Phelps Global Utility Income Fund Inc. (NYSE:DPG) for 449,099 shares. 1607 Capital Limited invested 0.03% of its portfolio in Duff & Phelps Global Utility Income Fund Inc. (NYSE:DPG).

The stock of Duff & Phelps Global Utility Income Fund Inc. (DPG) formed a down wedge with $15.11 target or 5.00 % below today’s $15.91 share price. The 8 months wedge indicates high risk for the $ company. If the $15.11 price target is reached, the company will be worth $ less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

It closed at $15.91 lastly. It is up 4.24% since December 8, 2016 and is uptrending. It has underperformed by 12.46% the S&P500.

More recent Duff & Phelps Global Utility Income Fund Inc. (NYSE:DPG) news were published by: Prnewswire.com which released: “Duff & Phelps Global Utility Income Fund Inc. Announces Dividend and Discloses …” on September 06, 2017. Also Marketwatch.com published the news titled: “Duff & Phelps Global Utility Income Fund Inc.” on July 27, 2011. Seekingalpha.com‘s news article titled: “Duff & Phelps Global Utility Income Fund: A Good Or Bad Investment?” with publication date: August 26, 2016 was also an interesting one.

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