Source Capital, Inc. (SOR) Forms Descending Triangle; Strong Momentum for Buyers Coming

July 27, 2018 - By Palma Niemeyer

Investors sentiment decreased to 1.92 in 2018 Q1. Its down 0.17, from 2.09 in 2017Q4. It is negative, as 4 investors sold Source Capital, Inc. shares while 9 reduced holdings. 11 funds opened positions while 14 raised stakes. 3.55 million shares or 214.33% more from 1.13 million shares in 2017Q4 were reported.
Tower Research Cap Ltd Liability (Trc) holds 0% or 200 shares. Blue Bell Private Wealth Lc reported 4,601 shares stake. Pecaut & holds 120,781 shares. Stone Run Ltd Company reported 5,102 shares. Duncker Streett Company invested in 0% or 350 shares. Bulldog Ltd owns 191,957 shares. Geode Capital Ltd owns 13,208 shares for 0% of their portfolio. 52,692 were accumulated by Cornerstone Advisors Inc. Shaker Financial Ser Lc holds 3.31% or 171,531 shares in its portfolio. Guggenheim Limited Liability Corporation invested in 0% or 14,024 shares. Mraz Amerine And Assocs stated it has 57,489 shares or 0.73% of all its holdings. Regions Finance invested in 0% or 1,516 shares. First Manhattan holds 0% of its portfolio in Source Capital, Inc. (NYSE:SOR) for 250 shares. Ledyard Bank & Trust has 50 shares. Ami Investment Mngmt owns 13,048 shares or 0.33% of their US portfolio.

The stock of Source Capital, Inc. (SOR) formed a descending triangle with $41.62 target or 3.00 % above today’s $40.41 share price. The 6 months triangle pattern indicates low risk for the $349.76 million company. If the $41.62 price target is reached, the company will be worth $10.49 million more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock decreased 0.10% or $0.04 during the last trading session, reaching $40.41. About 16,778 shares traded or 56.21% up from the average. Source Capital, Inc. (NYSE:SOR) has risen 6.20% since July 27, 2017 and is uptrending. It has underperformed by 6.37% the S&P500.

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