Some Traders Are Very Bullish on BLDRS Europe 100 ADR Index (ETF) (ADRU) After Forming Wedge Up Pattern

November 15, 2017 - By Louis Casey

The stock of BLDRS Europe 100 ADR Index (ETF) (ADRU) formed an up wedge with $22.76 target or 3.00 % above today’s $22.10 share price. The 8 months wedge indicates low risk for the $14.36 million company. If the $22.76 price target is reached, the company will be worth $430,800 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%.

It is 0.00% or $0 reaching $22.1 per share. It is down 14.62% since November 15, 2016 and is uptrending. It has underperformed by 2.08% the S&P500.

More news for BLDRS Europe 100 ADR Index (ETF) (NASDAQ:ADRU) were recently published by: Seekingalpha.com, which released: “ETF Deathwatch For October 2017” on November 14, 2017. Seekingalpha.com‘s article titled: “Germany’s Schäuble fears global policies are encouraging bubbles” and published on October 10, 2017 is yet another important article.

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