Principal Price Setters ETF (PSET)’s Bearish Ascending Triangle Chart Pattern Points to Higher Stock Risks

July 13, 2018 - By Theresa Judd

The stock of Principal Price Setters ETF (PSET) formed an ascending triangle with $31.62 target or 7.00 % below today’s $34.00 share price. The 6 months triangle pattern indicates high risk for the $18.20M company. If the $31.62 price target is reached, the company will be worth $1.27 million less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

It closed at $34 lastly. It is down 0.00% since July 13, 2017 and is . It has underperformed by 12.57% the S&P500.

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