Bearish Chart Formation for Principal Price Setters ETF (PSET) After Forming Ascending Triangle

September 8, 2018 - By Kristin Houston

The stock of Principal Price Setters ETF (PSET) formed an ascending triangle with $33.74 target or 4.00 % below today’s $35.15 share price. The 6 months triangle pattern indicates high risk for the $22.25M company. If the $33.74 price target is reached, the company will be worth $890,000 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.

It closed at $35.15 lastly. It is down 0.00% since September 8, 2017 and is . It has underperformed by 12.57% the S&P500.

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