What Will Happen to First Trust Small Cap Cr AlphaDEXFd(ETF) (FYX) Next? The Stock Formed a Several Months Bearish Ascending Triangle Chart Pattern

July 17, 2017 - By Clifton Ray

The stock of First Trust Small Cap Cr AlphaDEXFd(ETF) (FYX) formed an ascending triangle with $51.11 target or 9.00 % below today’s $56.17 share price. The 8 months triangle pattern indicates high risk for the $490.88M company. If the $51.11 price target is reached, the company will be worth $44.18M 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 51,600 shares traded or 53.83% up from the average. First Trust Small Cap Cr AlphaDEXFd(ETF) (NASDAQ:FYX) has risen 21.67% since July 17, 2016 and is uptrending. It has outperformed by 4.97% the S&P500.

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