Global X Funds (SOCL)’s Wedge Up Points to Lower Stock Risks

November 15, 2017 - By Winifred Garcia

The stock of Global X Funds (SOCL) formed an up wedge with $35.11 target or 9.00 % above today’s $32.21 share price. The 8 months wedge indicates low risk for the $167.27M company. If the $35.11 price target is reached, the company will be worth $15.05M 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%.

About shares traded. Global X Funds (NASDAQ:SOCL) has risen 52.91% since November 15, 2016 and is uptrending. It has outperformed by 36.21% the S&P500.

More notable recent Global X Funds (NASDAQ:SOCL) news were published by: Seekingalpha.com which released: “Lithium Bulls Should Consider This Chart” on November 15, 2017, also Streetinsider.com with their article: “Form 497J Global X Funds” published on October 18, 2017, Bloomberg.com published: “Like the Terminator, This Robot Fund Just Keeps On Buying” on October 25, 2017. More interesting news about Global X Funds (NASDAQ:SOCL) were released by: Forbes.com and their article: “3 Reasons Why Hundreds Of Funds Are Crushing The S&P 500” published on November 02, 2017 as well as Prnewswire.com‘s news article titled: “Global X Funds Announces Launch of the Global X Iconic US Brands ETF (LOGO)” with publication date: October 18, 2017.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.