Some Traders Are Very Bullish on First Trust Germany AlphaDEX ETF (FGM) After Forming Bullish Wedge Up

December 7, 2017 - By Peter Erickson

The stock of First Trust Germany AlphaDEX ETF (FGM) formed an up wedge with $52.84 target or 6.00 % above today’s $49.85 share price. The 8 months wedge indicates low risk for the $242.46M company. If the $52.84 price target is reached, the company will be worth $14.55 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 increased 0.63% or $0.31 during the last trading session, reaching $49.85. About 1,426 shares traded. First Trust Germany AlphaDEX ETF (NASDAQ:FGM) has risen 20.49% since December 8, 2016 and is uptrending. It has outperformed by 3.79% the S&P500.

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