Sol-Gel Technologies Ltd. (SLGL)’s Stock Formed A Several Months Wedge Down Chart Pattern

July 27, 2018 - By Margaret Guttierez

The stock of Sol-Gel Technologies Ltd. (SLGL) formed a down wedge with $6.18 target or 7.00 % below today’s $6.65 share price. The 7 months wedge indicates high risk for the $126.02M company. If the $6.18 price target is reached, the company will be worth $8.82M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock decreased 2.78% or $0.19 during the last trading session, reaching $6.65. About 6,852 shares traded. Sol-Gel Technologies Ltd. (NASDAQ:SLGL) has 0.00% since July 27, 2017 and is . It has underperformed by 12.57% the S&P500.

Analysts await Sol-Gel Technologies Ltd. (NASDAQ:SLGL) to report earnings on August, 21. After $-0.39 actual EPS reported by Sol-Gel Technologies Ltd. for the previous quarter, Wall Street now forecasts 12.82 % negative EPS growth.

More news for Sol-Gel Technologies Ltd. (NASDAQ:SLGL) were recently published by: Streetinsider.com, which released: “UPDATE: HC Wainwright Starts Sol Gel Technologies Ltd. (SLGL) at Buy” on July 16, 2018. Benzinga.com‘s article titled: “A Look At IPOs So Far In 2018” and published on July 05, 2018 is yet another important article.

Sol-Gel Technologies Ltd., a clinical-stage specialty pharmaceutical company, focuses on developing and commercializing topical dermatological drug products based on its proprietary microencapsulation delivery system in Israel. The company has market cap of $126.02 million. The company's lead product candidates include VERED that has completed Phase II clinical trials for the treatment of papulopustular rosacea; and TWIN and SIRS-T, which has completed Phase II clinical trials for the treatment of acne vulgaris. It currently has negative earnings. It is also involved in the development of generic dermatological candidates; and formulation and pre-clinical development of early stage product candidates for acne and rosacea, and other dermatological indications.

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Ratings Chart

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