PowerShares S&P SmallCap Materials ETF (PSCM) Can’t Be Less Risky. The Stock Formed a Bullish Descending Triangle Pattern

May 17, 2018 - By Kristen Paramore

The stock of PowerShares S&P SmallCap Materials ETF (PSCM) formed a descending triangle with $54.66 target or 4.00 % above today’s $52.56 share price. The 6 months triangle pattern indicates low risk for the $30.65M company. If the $54.66 price target is reached, the company will be worth $1.23M more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The ETF decreased 0.25% or $0.13 during the last trading session, reaching $52.56. About 150 shares traded. PowerShares S&P SmallCap Materials ETF (NASDAQ:PSCM) has risen 8.45% since May 17, 2017 and is uptrending. It has underperformed by 3.10% the S&P500.

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