Time to Sell Franklin Universal Trust (FT) After The Completion of This Multiple Bottom Chart Pattern?

October 2, 2018 - By Peter Erickson

Investors sentiment decreased to 1.46 in Q2 2018. Its down 0.29, from 1.75 in 2018Q1. It dived, as 1 investors sold Franklin Universal Trust shares while 12 reduced holdings. 10 funds opened positions while 9 raised stakes. 4.16 million shares or 0.36% less from 4.17 million shares in 2018Q1 were reported.
Susquehanna International Group Incorporated Limited Liability Partnership invested in 16,303 shares or 0% of the stock. Moreover, Synovus Finance has 0% invested in Franklin Universal Trust (NYSE:FT). Pnc Ser Gru Incorporated reported 5,647 shares. Janney Montgomery Scott Limited Liability Corporation holds 0% or 23,526 shares. Shaker Fincl Ltd holds 0.46% of its portfolio in Franklin Universal Trust (NYSE:FT) for 138,616 shares. 15,224 were reported by Css Lc Il. City reported 8 shares stake. Stratos Wealth Partners Ltd holds 0.01% in Franklin Universal Trust (NYSE:FT) or 18,900 shares. Moreover, Wells Fargo And Com Mn has 0% invested in Franklin Universal Trust (NYSE:FT) for 283,523 shares. Citigroup Incorporated invested in 2,000 shares. Moreover, Stifel Corp has 0% invested in Franklin Universal Trust (NYSE:FT). Raymond James Financial Advsr holds 13,500 shares or 0% of its portfolio. Creative Planning reported 0% of its portfolio in Franklin Universal Trust (NYSE:FT). Cetera Advisor Limited holds 21,466 shares or 0.01% of its portfolio. Morgan Stanley holds 296,519 shares.

The stock of Franklin Universal Trust (FT) shows a multiple bottoms pattern with $6.22 target or 7.00 % below today’s $6.69 share price. The 6 months chart pattern indicates high risk for the $168.24 million company. It was reported on Oct, 2 by Finviz.com. If the $6.22 price target is reached, the company will be worth $11.78 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock increased 0.36% or $0.02 during the last trading session, reaching $6.69. About 24,983 shares traded. Franklin Universal Trust (NYSE:FT) has declined 6.41% since October 2, 2017 and is downtrending. It has underperformed by 22.03% the S&P500.

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