Time to Buy First Trust NASDAQ-100 ex-Tech Sect ETF (QQXT) After The Completion of This Wedge Up?

December 7, 2017 - By Ellis Scott

The stock of First Trust NASDAQ-100 ex-Tech Sect ETF (QQXT) formed an up wedge with $51.52 target or 8.00 % above today’s $47.70 share price. The 7 months wedge indicates low risk for the $100.46 million company. If the $51.52 price target is reached, the company will be worth $8.04 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 0.46% or $0.22 during the last trading session, reaching $47.7. About 4,246 shares traded. First Trust NASDAQ-100 ex-Tech Sect ETF (NASDAQ:QQXT) has risen 18.72% since December 8, 2016 and is uptrending. It has outperformed by 2.02% the S&P500.

Another recent and important First Trust NASDAQ-100 ex-Tech Sect ETF (NASDAQ:QQXT) news was published by Smallcapnetwork.com which published an article titled: “What Happens When a Stock is Added to the Nasdaq 100 Index?” on June 13, 2016.

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