What’s Propelling PowerShares KBW Prpty & Casualty Ins ETF (KBWP) to Increase? The Stock Formed a Multiple Top Chart Pattern

January 13, 2018 - By Nellie Frank

The stock of PowerShares KBW Prpty & Casualty Ins ETF (KBWP) shows a multiple tops pattern with $63.19 target or 7.00 % above today’s $59.06 share price. The 9 months chart pattern indicates low risk for the $98.05M company. It was reported on Jan, 13 by Finviz.com. If the $63.19 price target is reached, the company will be worth $6.86 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The ETF increased 0.87% or $0.51 during the last trading session, reaching $59.06. About 28,836 shares traded or 84.10% up from the average. PowerShares KBW Prpty & Casualty Ins ETF (NASDAQ:KBWP) has risen 14.96% since January 13, 2017 and is uptrending. It has underperformed by 1.74% the S&P500.

Another recent and important PowerShares KBW Prpty & Casualty Ins ETF (NASDAQ:KBWP) news was published by Etfdailynews.com which published an article titled: “How Did Factor-Based ETFs Perform In A Year Of Concentrated Gains? (SPLV)” on January 12, 2018.

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