What’s Ahead for Invesco Municipal Trust (VKQ) After Forming Wedge Up Pattern?

September 8, 2018 - By Catherine Diaz

Investors sentiment decreased to 1.24 in 2018 Q1. Its down 0.14, from 1.38 in 2017Q4. It turned negative, as 11 investors sold Invesco Municipal Trust shares while 14 reduced holdings. 14 funds opened positions while 17 raised stakes. 5.11 million shares or 5.30% more from 4.85 million shares in 2017Q4 were reported.
Landscape Capital Mngmt Ltd Liability Com stated it has 64,969 shares. Essex holds 0.03% or 11,600 shares in its portfolio. Wells Fargo & Company Mn accumulated 541,727 shares or 0% of the stock. Northwestern Mutual Wealth Mgmt Company holds 36,621 shares. Stifel Financial reported 18,525 shares. 20,104 are held by Rmb Capital Mgmt Ltd Liability Corporation. Us Savings Bank De accumulated 0% or 6,438 shares. 294,508 were reported by Guggenheim Cap Limited Liability Corp. Highlander Capital Ltd accumulated 5,770 shares. Mariner Invest Grp Ltd Liability Company accumulated 25,800 shares. 12,800 are held by Oakmont Prns Ltd Liability. Cohen & Steers reported 130,425 shares. Oppenheimer, New York-based fund reported 16,239 shares. Asset Management stated it has 296,404 shares or 0.06% of all its holdings. Robinson Capital Ltd reported 480,743 shares stake.

The stock of Invesco Municipal Trust (VKQ) formed an up wedge with $12.59 target or 7.00 % above today’s $11.77 share price. The 6 months wedge indicates low risk for the $651.12M company. If the $12.59 price target is reached, the company will be worth $45.58 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 0.42% or $0.05 during the last trading session, reaching $11.77. About 92,711 shares traded. Invesco Municipal Trust (NYSE:VKQ) has declined 7.40% since September 8, 2017 and is downtrending. It has underperformed by 19.97% the S&P500.

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