First Trust Small Cap Gr AlphaDEX ETF (FYC) Draws Bullish Attention After Forming Wedge Up Pattern

December 20, 2017 - By Hazel Jackson

The stock of First Trust Small Cap Gr AlphaDEX ETF (FYC) formed an up wedge with $46.41 target or 9.00 % above today’s $42.58 share price. The 9 months wedge indicates low risk for the $146.56M company. If the $46.41 price target is reached, the company will be worth $13.19 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 decreased 0.35% or $0.15 during the last trading session, reaching $42.58. About 14,706 shares traded. First Trust Small Cap Gr AlphaDEX ETF (NASDAQ:FYC) has risen 23.74% since December 20, 2016 and is uptrending. It has outperformed by 7.04% the S&P500.

More news for First Trust Small Cap Gr AlphaDEX ETF (NASDAQ:FYC) were recently published by: Bloomberg.com, which released: “First Trust ETF Follows Quant Funds by Betting Big on Tech” on November 21, 2017. Etfdailynews.com‘s article titled: “This First Trust “Fund Of Funds” ETF Deserves A Closer Look” and published on April 06, 2017 is yet another important article.

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