FMF Stock Tickeron detected bearish ETF Pattern: Cup-and-Handle Inverse on May 29, 2024

A.I.dvisor
at Tickeron.com
05/30/24
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Cup-and-Handle Inverse
FMF - First Trust Managed Future Strategy ETF
Emerged: 05/29/24
Breakout: $48.25
Price: $48.61
Target price: $47.69
A.I.dvisor detected a bearish Cup-and-Handle Inverse pattern for FMF stock. This pattern was detected on May 29, 2024 . The odds of reaching the target price are 6. The Inverted Cup-and-Handle (sometimes called Inverted Cup-and-Holder) pattern forms when prices rise then decline to create an upside-down “U”like shape (1, 2, 3, also known as the Cup), followed by a shorter relatively straight price increase that bounces from the right lip (from 3 to 4, creating the Handle). Consider selling the security short or buying a put option at the downward breakout level. The confirmation move is the breakout of the price below the right cup lip.
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Category Trading

Profile
Fundamentals
Details
Category
Systematic Trend
Address
First Trust Exchange-Traded Fund V120 East Liberty Drive, Wheaton, IllinoisWheaton
Phone
(800) 621-1675
Web
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