Could Invesco DWA Consumer Staples Mom ETF (PSL) Change Direction After This Wedge Up

July 27, 2018 - By Megan Stone

The stock of Invesco DWA Consumer Staples Mom ETF (PSL) formed an up wedge with $76.62 target or 6.00 % above today’s $72.29 share price. The 7 months wedge indicates low risk for the $134.33M company. If the $76.62 price target is reached, the company will be worth $8.06 million 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 0.61% or $0.435 during the last trading session, reaching $72.285. About 11,810 shares traded. Invesco DWA Consumer Staples Mom ETF (NASDAQ:PSL) has risen 15.66% since July 27, 2017 and is uptrending. It has outperformed by 3.09% the S&P500.

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