ISHARES INTERNATIONAL PREFERRED STOCK ETF
ISHARES INTL PREFERRED STOCK ETF (IPFF.K) formed an 18 month-long ascending triangle. IPFF.K has a well-defined horizontal resistance that was tested several times over the course of the chart pattern. Strong horizontal boundary stands at 17.45 levels. Last 5 month's price action can be identified as a rectangle. The 5 month-long rectangle is acting as a launching pattern (learn more about launching patterns - Video Tutorial). The daily close above 17.80 levels confirmed the breakout from the multi-month ascending triangle with the possible price target of 21.40 levels.
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