What Next for Aberdeen Australia Equity Fund Inc (IAF) After Forming Ascending Triangle Chart Pattern?

July 17, 2017 - By Darrin Black

The stock of Aberdeen Australia Equity Fund Inc (IAF) formed an ascending triangle with $5.78 target or 7.00 % below today’s $6.21 share price. The 6 months triangle pattern indicates high risk for the $143.29 million company. If the $5.78 price target is reached, the company will be worth $10.03M less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

About 60,546 shares traded or 31.61% up from the average. Aberdeen Australia Equity Fund Inc (NYSEMKT:IAF) has risen 3.51% since July 17, 2016 and is uptrending. It has underperformed by 13.19% the S&P500.

More recent Aberdeen Australia Equity Fund Inc (NYSEMKT:IAF) news were published by: Nasdaq.com which released: “Aberdeen Australia Equity Fund Inc (IAF) Ex-Dividend Date Scheduled for June …” on June 15, 2017. Also Marketwatch.com published the news titled: “6.26” on October 20, 2010. Prnewswire.com‘s news article titled: “Aberdeen Australia Equity Fund, Inc. Announces Record Date And Payment Date …” with publication date: June 09, 2017 was also an interesting one.

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