What’s in MFC Bancorp Ltd. (MFCB) After Forming Double Bottom?

July 16, 2018 - By Mark Babin

The chart of MFC Bancorp Ltd. (MFCB) shows a double bottom with $6.07 target or 3.00 % below today’s $6.26 share price. The 5 months chart pattern indicates high risk for the $78.47 million company. It was reported on Jul, 16 by Finviz.com. If the $6.07 price target is reached, the company will be worth $2.35M less. Double bottoms are rare but powerful chart patterns.

The stock increased 1.75% or $0.1078 during the last trading session, reaching $6.2599. About 2,175 shares traded. MFC Bancorp Ltd. (NYSE:MFCB) has declined 23.56% since July 16, 2017 and is downtrending. It has underperformed by 36.13% the S&P500.

MFC Bancorp Ltd., an integrated merchant banking company, provides various financial services for firms and institutions worldwide. The company has market cap of $78.47 million. The firm specializes in markets that are not adequately addressed by traditional sources of supply and finance, with focus on providing solutions for small and medium sized enterprises. It currently has negative earnings. It offers forfaiting, factoring, bank guarantees, letters of credit, stand-by letters of credit, bills of exchange, bills of lading, and promissory notes and forwarderÂ’s certificate of receipt facilities; purchase financing collateralized by the commodity; inventory financing collateralized by the inventory; sales financing; structured trade finance, including advisory in conjunction with export credit agencies, credit insurance companies, and third party banks; short term and long term financing; investment and acquisition financing; participation in syndication of loans or other debt instruments; suppliers and buyers credits; and payment services.

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