What’s Propelling First Trust Hong Kong AlphaDEX ETF (FHK) to Increase? The Stock Formed a Multiple Top Pattern

December 8, 2017 - By Marie Mckinney

The stock of First Trust Hong Kong AlphaDEX ETF (FHK) shows a multiple tops pattern with $44.00 target or 5.00 % above today’s $41.90 share price. The 7 months chart pattern indicates low risk for the $8.68 million company. It was reported on Dec, 8 by Finviz.com. If the $44.00 price target is reached, the company will be worth $434,000 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%.

It closed at $41.9 lastly. It is down 20.31% since December 8, 2016 and is uptrending. It has outperformed by 3.61% the S&P500.

Another recent and important First Trust Hong Kong AlphaDEX ETF (NASDAQ:FHK) news was published by Streetinsider.com which published an article titled: “Form 40-17G/A FIRST TRUST EXCHANGE-TRA” on November 09, 2017.

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