Principal Millennials ETF (GENY)’s Bullish Wedge Up Points to Lower Stock Risks

October 2, 2018 - By Adrian Mccoy

The stock of Principal Millennials ETF (GENY) formed an up wedge with $41.50 target or 9.00 % above today’s $38.08 share price. The 5 months wedge indicates low risk for the $21.54M company. If the $41.50 price target is reached, the company will be worth $1.94M 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 decreased 1.16% or $0.445 during the last trading session, reaching $38.075. About 927 shares traded. Principal Millennials ETF (NASDAQ:GENY) has risen 26.55% since October 2, 2017 and is uptrending. It has outperformed by 10.93% the S&P500.

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