What’s in Nordic American Offshore Ltd. (NAO) After Forming Inverse H&S Chart Pattern?

July 16, 2018 - By Matthew Richard

The stock of Nordic American Offshore Ltd. (NAO) formed H&SI with $1.26 price target or 9.00 % above the current $1.16 share price. The 9 months Head & Shoulders Inverse reveals low risk for the $72.12M company. This trade was featured by Faxor.com on Jul, 16. If the $1.26 target price is reached, the company’s valuation will be $6.49 million more.
Inverse Head-and-shoulders are some of the best chart patterns to trade. These formations work as in bear as in bull markets and many researchers states that they have very low failure rates. Despite the high pullback rate, these trading patterns are usually good places to trade based on their risk-reward profile. Industry experts’s backtests show that 55% of these patterns reach their targets.

The stock 0.30% or $0 during the last trading session, reaching $1.16. It is down 3.70% since July 16, 2017 and is uptrending. It has underperformed by 8.87% the S&P500.

Nordic American Offshore Ltd. owns and operates platform supply vessels . The company has market cap of $72.12 million. As of May 2, 2017, it had a fleet of 10 PSVs. It currently has negative earnings. The firm operates its vessels in the United Kingdom and in the Norwegian sectors of the North Sea.

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