Invesco DWA Consumer Staples Mom ETF (PSL)’s Stock Is Buy After Forming Bullish Wedge Up

September 16, 2018 - By Victoria Pittman

The stock of Invesco DWA Consumer Staples Mom ETF (PSL) formed an up wedge with $75.81 target or 3.00 % above today’s $73.60 share price. The 7 months wedge indicates low risk for the $141.32 million company. If the $75.81 price target is reached, the company will be worth $4.24M 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 0.49% or $0.36 during the last trading session, reaching $73.6. About 5,634 shares traded. Invesco DWA Consumer Staples Mom ETF (NASDAQ:PSL) has risen 22.13% since September 16, 2017 and is uptrending. It has outperformed by 6.51% the S&P500.

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