What’s First Trust Large Cap Gr AlphaDEX ETF (FTC) Upside After Forming Bullish Wedge Up Chart Pattern?

September 16, 2018 - By Mark Babin

The stock of First Trust Large Cap Gr AlphaDEX ETF (FTC) formed an up wedge with $75.61 target or 7.00 % above today’s $70.66 share price. The 9 months wedge indicates low risk for the $958.53 million company. If the $75.61 price target is reached, the company will be worth $67.10M 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 0.68% or $0.48 during the last trading session, reaching $70.66. About 28,721 shares traded. First Trust Large Cap Gr AlphaDEX ETF (NASDAQ:FTC) has risen 23.16% since September 16, 2017 and is uptrending. It has outperformed by 7.54% the S&P500.

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