Time to Sell iShares MSCI Turkey ETF (TUR) After The Completion of This Bearish Head & Shoulders Chart Pattern?

January 10, 2018 - By Vivian Park

The stock of iShares MSCI Turkey ETF (TUR) formed H&S with $39.04 target or 9.00 % below today’s $42.90 share price. The 5 months Head & Shoulders indicates high risk for the $349.03M company. It was reported on Jan, 10 by Faxor.com. If the $39.04 price target is reached, the company will be worth $31.41M less.
Head-and-shoulders are one of the best chart patterns to trade. They work in bear and bull markets and according to many researchers have very low failure rate. Even thought they have high pullback rate, such patters usually provide good risk-reward entry opportunities. The percentage of stocks meeting price targets is 55%.

The ETF decreased 2.03% or $0.89 during the last trading session, reaching $42.9. About 113,315 shares traded. iShares MSCI Turkey ETF (NASDAQ:TUR) has risen 5.32% since January 10, 2017 and is uptrending. It has underperformed by 11.38% the S&P500.

Another recent and important iShares MSCI Turkey ETF (NASDAQ:TUR) news was published by Etfdailynews.com which published an article titled: “The Turkey ETF Continues To Crash Alongside The Lira” on January 10, 2017.

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