What’s Ahead for iShares Morningstar Mid-Cap Value ETF (JKI) After Forming Ascending Triangle Pattern?

July 27, 2018 - By Robert Shackelford

The stock of iShares Morningstar Mid-Cap Value ETF (JKI) formed an ascending triangle with $151.08 target or 7.00 % below today’s $162.45 share price. The 9 months triangle pattern indicates high risk for the $429.73 million company. If the $151.08 price target is reached, the company will be worth $30.08M 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 1.03% or $1.66 during the last trading session, reaching $162.45. About 5,035 shares traded. iShares Morningstar Mid-Cap Value ETF (NASDAQ:JKI) has risen 8.28% since July 27, 2017 and is uptrending. It has underperformed by 4.29% the S&P500.

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