Could First Trust DevMkts exUS SC AlphaDEXÂETF (FDTS) Decrease Even More? The Stock Formed Bearish Ascending Triangle Chart Pattern

June 18, 2018 - By Peter Erickson

The stock of First Trust DevMkts exUS SC AlphaDEXÂETF (FDTS) formed an ascending triangle with $39.65 target or 8.00 % below today’s $43.10 share price. The 9 months triangle pattern indicates high risk for the $15.35 million company. If the $39.65 price target is reached, the company will be worth $1.23 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 stock decreased 0.20% or $0.09 during the last trading session, reaching $43.1. About 3,158 shares traded. First Trust DevMkts exUS SC AlphaDEXÂETF (NASDAQ:FDTS) has risen 31.91% since June 18, 2017 and is uptrending. It has outperformed by 19.34% the S&P500.

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: