Could First Trust AsiaPac ex-Jpn AlphaDEXÂ ETF (FPA) Recover After Forming a Bullish Descending Triangle Chart Pattern?

June 14, 2018 - By Jimmy Baldridge

The stock of First Trust AsiaPac ex-Jpn AlphaDEXÂ ETF (FPA) formed a descending triangle with $37.45 target or 7.00 % above today’s $35.00 share price. The 5 months triangle pattern indicates low risk for the $61.46M company. If the $37.45 price target is reached, the company will be worth $4.30M 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 0.46% or $0.16 during the last trading session, reaching $35. About 8,511 shares traded or 15.80% up from the average. First Trust AsiaPac ex-Jpn AlphaDEXÂ ETF (NASDAQ:FPA) has risen 8.64% since June 14, 2017 and is uptrending. It has underperformed by 3.93% the S&P500.

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