Does John Hancock Financial Opportunities Fund (BTO) Have Any Gas After Forming This Inverse Head & Shoulders Chart Pattern?

January 16, 2018 - By Clifton Ray

Investors sentiment increased to 1.56 in 2017 Q3. Its up 0.35, from 1.21 in 2017Q2. It improved, as 6 investors sold John Hancock Financial Opportunities Fund shares while 10 reduced holdings. 9 funds opened positions while 16 raised stakes. 3.60 million shares or 3.66% more from 3.47 million shares in 2017Q2 were reported.
103,360 were accumulated by Royal Bankshares Of Canada. Stephens Inc Ar holds 0.03% or 19,183 shares. Institute For Wealth Mgmt Limited Liability holds 11,143 shares. First Manhattan accumulated 0% or 759 shares. Janney Montgomery Scott Ltd Liability Corp accumulated 189,887 shares. Wells Fargo & Company Mn holds 0% or 307,256 shares in its portfolio. First Republic Mgmt holds 0% or 14,604 shares in its portfolio. Orleans Cap La has invested 1.79% of its portfolio in John Hancock Financial Opportunities Fund (NYSE:BTO). Cohen And Steers reported 16,526 shares stake. Cambridge Investment Research Advsrs has 0.01% invested in John Hancock Financial Opportunities Fund (NYSE:BTO). Us National Bank De has invested 0% of its portfolio in John Hancock Financial Opportunities Fund (NYSE:BTO). Massachusetts-based Winslow Evans Crocker has invested 0.14% in John Hancock Financial Opportunities Fund (NYSE:BTO). Raymond James Fin Advsr invested 0.02% of its portfolio in John Hancock Financial Opportunities Fund (NYSE:BTO). Da Davidson And invested 0.01% of its portfolio in John Hancock Financial Opportunities Fund (NYSE:BTO). Northwestern Mutual Wealth Mngmt reported 326 shares.

The stock of John Hancock Financial Opportunities Fund (BTO) formed H&SI with $43.32 price target or 8.00 % above the current $40.11 share price. The 6 months Head & Shoulders Inverse reveals low risk for the $743.20 million company. This trade was featured by Faxor.com on Jan, 16. If the $43.32 target price is reached, the company’s valuation will be $59.46M more.
Inverse Head-and-shoulders are some of the best chart patterns to trade. These formations work as in bear as in bull markets and many researchers states that they have very low failure rates. Despite the high pullback rate, these trading patterns are usually good places to trade based on their risk-reward profile. Industry experts’s backtests show that 55% of these patterns reach their targets.

The stock increased 0.25% or $0.1 during the last trading session, reaching $40.11. About 52,066 shares traded or 12.84% up from the average. John Hancock Financial Opportunities Fund (NYSE:BTO) has risen 34.10% since January 16, 2017 and is uptrending. It has outperformed by 17.40% the S&P500.

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