Does Principal Millennials ETF (GENY) Have Any Gas After Forming This Bullish Wedge Up Chart Pattern?

September 16, 2018 - By Theresa Judd

The stock of Principal Millennials ETF (GENY) formed an up wedge with $42.04 target or 9.00 % above today’s $38.57 share price. The 5 months wedge indicates low risk for the $21.54 million company. If the $42.04 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 0.41% or $0.16 during the last trading session, reaching $38.57. About 2,561 shares traded or 66.51% up from the average. Principal Millennials ETF (NASDAQ:GENY) has risen 26.55% since September 16, 2017 and is uptrending. It has outperformed by 10.93% the S&P500.

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