The stock of First Trust NASDAQ CEA Cybersecurity ETF (CIBR) formed an up wedge with $51.35 target or 184.00% above today’s $18.08 share price. The 5 months wedge indicates low risk for the $98.06M company. If the $51.35 price target is reached, the company will be worth $180.43 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%. The ETF is down 0.45% or $0.08 after the news, hitting $18.08 per share. About 1,885 shares traded hands. First Trust NASDAQ CEA Cybersecurity ETF (NASDAQ:CIBR) has risen 6.00% since October 10, 2015 and is uptrending. It has outperformed by 4.90% the S&P500. For the full article click here
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