After Reaching 52-Week High, Is FIRST ASSET US BUYBACK INDEX ETF’s Near-Term Analysis Positive?

 After Reaching 52 Week High, Is FIRST ASSET US BUYBACK INDEX ETF's Near Term Analysis Positive?

The stock of FIRST ASSET US BUYBACK INDEX ETF (TSE:FBU) hit a new 52-week high and has $55.30 target or 167.00% above today’s $20.71 share price. The 8 months bullish chart indicates low risk for the $3.11M company. The 1-year high was reported on Nov, 10 by Barchart.com. If the $55.30 price target is reached, the company will be worth $5.19 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The ETF last traded at $20.71 per share. It is down 6.00% since October 11, 2016 and is uptrending. It has outperformed by 0.35% the S&P500.

More notable recent FIRST ASSET US BUYBACK INDEX ETF (TSE:FBU) news were published by: Marketwatch.com which released: “First Asset Opens the Market” on October 17, 2016, also Marketwatch.com with their article: “3 NEW First Asset ETFs based on CIBC Index Strategies” published on October 18, 2016, Theglobeandmail.com published: “New Canadian ETFs zero in on share buybacks” on November 01, 2016. More interesting news about FIRST ASSET US BUYBACK INDEX ETF (TSE:FBU) were released by: Marketwatch.com and their article: “TMX Group Equity Financing Statistics – September 2016” published on October 07, 2016 as well as Bloomberg.com‘s news article titled: “The Pros and Cons of Buying Buyback ETFs” with publication date: June 24, 2014.

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