Is Selling Stock Like First Trust New Opportunities MLP & Energy Fund (FPL) After This Bearish Double Bottom Chart Pattern Winning Strategy?

October 2, 2018 - By Adrian Erickson

The chart of First Trust New Opportunities MLP & Energy Fund (FPL) shows a double bottom with $9.42 target or 3.00 % below today’s $9.71 share price. The 8 months chart pattern indicates high risk for the $ company. It was reported on Oct, 2 by Finviz.com. If the $9.42 price target is reached, the company will be worth $ less. Double bottoms are rare but powerful chart patterns.

The stock increased 0.73% or $0.07 during the last trading session, reaching $9.71. About 131,270 shares traded. First Trust New Opportunities MLP & Energy Fund (NYSE:FPL) has declined 19.30% since October 2, 2017 and is downtrending. It has underperformed by 34.92% the S&P500.

More news for First Trust New Opportunities MLP & Energy Fund (NYSE:FPL) were recently published by: Seekingalpha.com, which released: “First Trust New Opportunities MLP & Energy Fund declares $0.075 dividend” on September 20, 2018. Businesswire.com‘s article titled: “First Trust Advisors LP Announces Portfolio Manager Update for FEI, FEN, FIF and FPL” and published on September 12, 2018 is yet another important article.

First Trust New Opportunities MLP & Energy Fund is a closed-ended balanced mutual fund launched and managed by First Trust Advisors L.P. The company has market cap of $. It is co-managed by Energy Income Partners LLC. It currently has negative earnings. The fund invests in the public equity and fixed income markets of the United States.

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