After Forming Wedge Up Chart Pattern, Is Invesco Municipal Opportunity Trust (VMO)’s Near-Term Analysis Positive?

September 7, 2018 - By Pearl Odom

Investors sentiment decreased to 1.43 in 2018 Q1. Its down 0.35, from 1.78 in 2017Q4. It is negative, as 13 investors sold Invesco Municipal Opportunity Trust shares while 15 reduced holdings. 15 funds opened positions while 25 raised stakes. 8.38 million shares or 32.22% more from 6.34 million shares in 2017Q4 were reported.
Robinson Management Lc reported 589,076 shares. Tradewinds Management Limited Liability Corporation owns 8,500 shares. Raymond James Finance Advsr invested in 126,262 shares or 0.01% of the stock. Cap Investment Advsrs Ltd Liability Corp owns 24,354 shares. Carroll Fin Assoc holds 0% or 1,829 shares in its portfolio. Fca Tx holds 0.46% or 96,443 shares in its portfolio. Lpl Financial Ltd Liability Co, California-based fund reported 80,831 shares. Geode Capital Mgmt Limited Liability Corporation owns 116,559 shares. King Luther Capital Mgmt Corporation reported 18,211 shares or 0% of all its holdings. Fiduciary Svcs Of The Southwest Tx has 58,512 shares. Sei Invests has 5,022 shares. Cambridge Investment Inc has invested 0% in Invesco Municipal Opportunity Trust (NYSE:VMO). Oakmont Prtn Ltd Limited Liability Company stated it has 0.08% of its portfolio in Invesco Municipal Opportunity Trust (NYSE:VMO). Fiera Capital Corp, Quebec – Canada-based fund reported 323,160 shares. First Allied Advisory Services Inc accumulated 12,168 shares or 0.01% of the stock.

The stock of Invesco Municipal Opportunity Trust (VMO) formed an up wedge with $12.71 target or 8.00 % above today’s $11.77 share price. The 6 months wedge indicates low risk for the $793.24 million company. If the $12.71 price target is reached, the company will be worth $63.46 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 stock decreased 0.28% or $0.03 during the last trading session, reaching $11.77. About 87,425 shares traded. Invesco Municipal Opportunity Trust (NYSE:VMO) has declined 10.63% since September 7, 2017 and is downtrending. It has underperformed by 23.20% the S&P500.

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