Could POWERSHARES GLBAL FUNDS IRELAND PLC POWERSHARES FTSE RAFI US 1000 UCITS ETF See a Reversal After Breaking Its 52-Week High?

 Could POWERSHARES GLBAL FUNDS IRELAND PLC POWERSHARES FTSE RAFI US 1000 UCITS ETF See a Reversal After Breaking Its 52 Week High?

The stock of POWERSHARES GLBAL FUNDS IRELAND PLC POWERSHARES FTSE RAFI US 1000 UCITS ETF (LON:PSRF) hit a new 52-week high and has GBX 1369.20 target or 5.00% above today’s GBX 1304.00 share price. The 9 months bullish chart indicates low risk for the GBX company. The 1-year high was reported on Nov, 23 by Barchart.com. If the GBX 1369.20 price target is reached, the company will be worth GBX 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 increased 0.62% or GBX 8 on November 23, hitting GBX 1304. About 23,672 shares traded hands. POWERSHARES GLBAL FUNDS IRELAND PLC POWERSHARES FTSE RAFI US 1000 UCITS ETF (LON:PSRF) has risen 24.05% since April 15, 2016 and is uptrending. It has outperformed by 18.72% the S&P500.

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