iShares Asia 50 ETF (AIA) Stock Formed Bearish H&S Pattern. What To Expect?

June 16, 2018 - By Kenneth Lin

The stock of iShares Asia 50 ETF (AIA) formed H&S with $59.90 target or 9.00 % below today’s $65.82 share price. The 5 months Head & Shoulders indicates high risk for the $997.36 million company. It was reported on Jun, 16 by Faxor.com. If the $59.90 price target is reached, the company will be worth $89.76M less.
Head-and-shoulders are one of the best chart patterns to trade. They work in bear and bull markets and according to many researchers have very low failure rate. Even thought they have high pullback rate, such patters usually provide good risk-reward entry opportunities. The percentage of stocks meeting price targets is 55%.

The ETF decreased 0.80% or $0.53 during the last trading session, reaching $65.82. About 65,261 shares traded. iShares Asia 50 ETF (NASDAQ:AIA) has risen 18.91% since June 16, 2017 and is uptrending. It has outperformed by 6.34% the S&P500.

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