Can iShares Fallen Angels USD Bond ETF (FALN)’s Tomorrow be Different? The Stock Formed a Wedge Down Pattern

June 17, 2018 - By Hazel Jackson

The stock of iShares Fallen Angels USD Bond ETF (FALN) formed a down wedge with $25.22 target or 5.00 % below today’s $26.55 share price. The 6 months wedge indicates high risk for the $65.90 million company. If the $25.22 price target is reached, the company will be worth $3.30 million 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.

The ETF decreased 0.15% or $0.04 during the last trading session, reaching $26.55. About 3,969 shares traded. iShares Fallen Angels USD Bond ETF (NASDAQ:FALN) has declined 2.41% since June 17, 2017 and is downtrending. It has underperformed by 14.98% the S&P500.

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