Some Traders Are Very Bullish on First Trust SSI Strategic Convertible Securities ETF (FCVT) After Forming Bullish Wedge Up Pattern

September 17, 2017 - By Michael Collier

The stock of First Trust SSI Strategic Convertible Securities ETF (FCVT) formed an up wedge with $30.43 target or 7.00 % above today’s $28.44 share price. The 6 months wedge indicates low risk for the $54.04M company. If the $30.43 price target is reached, the company will be worth $3.78M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The ETF increased 0.03% or $0.01 on September 15, reaching $28.44. About 10,130 shares traded. First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) has 0.00% since September 17, 2016 and is . It has underperformed by 16.70% the S&P500.

More news for First Trust SSI Strategic Convertible Securities ETF (NASDAQ:FCVT) were recently published by: Etfdailynews.com, which released: “The Ultimate Guide To Convertible Bond Strategy ETFs” on May 11, 2017. Finance.Yahoo.com‘s article titled: “First Trust Advisors LP Announces Distributions for Exchange-Traded Funds” and published on December 20, 2016 is yet another important article.

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