Bullish Chart Formation for First Trust Dorsey Wright Focus 5 ETF (FV) After Forming Multiple Top

August 10, 2018 - By Robert Sims

The stock of First Trust Dorsey Wright Focus 5 ETF (FV) shows a multiple tops pattern with $32.08 target or 4.00 % above today’s $30.85 share price. The 7 months chart pattern indicates low risk for the $2.77B company. It was reported on Aug, 10 by Finviz.com. If the $32.08 price target is reached, the company will be worth $110.80M more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The ETF decreased 0.19% or $0.06 during the last trading session, reaching $30.85. About 140,743 shares traded. First Trust Dorsey Wright Focus 5 ETF (NASDAQ:FV) has risen 20.44% since August 10, 2017 and is uptrending. It has outperformed by 7.87% the S&P500.

Another recent and important First Trust Dorsey Wright Focus 5 ETF (NASDAQ:FV) news was published by Investorplace.com which published an article titled: “5 Safe and Sound ETF Strategies for 2H” on July 12, 2018.

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