Some Traders Are Very Bullish on First Trust Multi Cap Gr AlphaDEX ETF (FAD) After Forming Wedge Up Chart Pattern

September 16, 2018 - By Victoria Pittman

The stock of First Trust Multi Cap Gr AlphaDEX ETF (FAD) formed an up wedge with $80.89 target or 4.00 % above today’s $77.78 share price. The 6 months wedge indicates low risk for the $216.47M company. If the $80.89 price target is reached, the company will be worth $8.66 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 ETF increased 0.71% or $0.5474 during the last trading session, reaching $77.78. About 3,659 shares traded. First Trust Multi Cap Gr AlphaDEX ETF (NASDAQ:FAD) has risen 27.84% since September 16, 2017 and is uptrending. It has outperformed by 12.22% the S&P500.

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