First Trust Exchange Traded AlphaDEX Fund II (FHK) Stock Faces Higher Risks Forward After Forming Bearish Ascending Triangle Chart Pattern

November 21, 2017 - By Adrian Erickson

The stock of First Trust Exchange Traded AlphaDEX Fund II (FHK) formed an ascending triangle with $40.33 target or 7.00 % below today’s $43.37 share price. The 8 months triangle pattern indicates high risk for the $8.62M company. If the $40.33 price target is reached, the company will be worth $603,400 less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

About 101 shares traded. First Trust Exchange Traded AlphaDEX Fund II (NASDAQ:FHK) has risen 20.31% since November 21, 2016 and is uptrending. It has outperformed by 3.61% the S&P500.

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