First Trust International IPO ETF (FPXI)’s Stock Is Sell After Forming Ascending Triangle Chart Pattern

December 8, 2017 - By Migdalia James

The stock of First Trust International IPO ETF (FPXI) formed an ascending triangle with $31.82 target or 7.00 % below today’s $34.22 share price. The 6 months triangle pattern indicates high risk for the $20.87M company. If the $31.82 price target is reached, the company will be worth $1.46 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 0.38% or $0.13 during the last trading session, reaching $34.22. About 3,503 shares traded. First Trust International IPO ETF (NASDAQ:FPXI) has risen 16.66% since December 8, 2016 and is uptrending. It has underperformed by 0.04% the S&P500.

Another recent and important First Trust International IPO ETF (NASDAQ:FPXI) news was published by which published an article titled: “International stock market bets US investors won’t touch” on April 11, 2017.

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