After Forming Bearish Head & Shoulders Chart Pattern, Is PowerShares Intl Div Achiev ETF (PID)’s Near-Term Analysis Negative?

December 20, 2017 - By Nellie Frank

The stock of PowerShares Intl Div Achiev ETF (PID) formed H&S with $15.42 target or 5.00 % below today’s $16.23 share price. The 8 months Head & Shoulders indicates high risk for the $862.81M company. It was reported on Dec, 20 by Faxor.com. If the $15.42 price target is reached, the company will be worth $43.14 million less.
Head-and-shoulders are one of the best chart patterns to trade. They work in bear and bull markets and according to many researchers have very low failure rate. Even thought they have high pullback rate, such patters usually provide good risk-reward entry opportunities. The percentage of stocks meeting price targets is 55%.

The ETF decreased 0.18% or $0.03 during the last trading session, reaching $16.23. About 319,114 shares traded or 72.60% up from the average. PowerShares Intl Div Achiev ETF (NASDAQ:PID) has risen 8.81% since December 20, 2016 and is uptrending. It has underperformed by 7.89% the S&P500.

More news for PowerShares Intl Div Achiev ETF (NASDAQ:PID) were recently published by: Fool.com, which released: “The Best Dividend ETFs” on June 20, 2011. Forbes.com‘s article titled: “Investors Snatch SSW Even Lower Than Its Secondary Stock Offering” and published on August 24, 2016 is yet another important article.

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