First Trust Capital Strength ETF (FTCS) Stock Faces Lower Risks Forward After Forming Bullish Descending Triangle Pattern

May 18, 2018 - By Louis Casey

The stock of First Trust Capital Strength ETF (FTCS) formed a descending triangle with $53.50 target or 4.00 % above today’s $51.44 share price. The 6 months triangle pattern indicates low risk for the $821.81 million company. If the $53.50 price target is reached, the company will be worth $32.87 million more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The ETF increased 0.33% or $0.17 during the last trading session, reaching $51.44. About 57,343 shares traded. First Trust Capital Strength ETF (NASDAQ:FTCS) has risen 15.38% since May 18, 2017 and is uptrending. It has outperformed by 3.83% the S&P500.

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