Is Buying Stock Like The Lovesac Company (LOVE) After This Bullish Descending Triangle Chart Pattern a Winning Strategy?

August 18, 2018 - By Catherine Diaz

The stock of The Lovesac Company (LOVE) formed a descending triangle with $21.16 target or 5.00 % above today’s $20.15 share price. The 5 months triangle pattern indicates low risk for the $271.06M company. If the $21.16 price target is reached, the company will be worth $13.55M 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 1.80% or $0.37 during the last trading session, reaching $20.15. About 3,119 shares traded. The Lovesac Company (NASDAQ:LOVE) has 0.00% since August 18, 2017 and is . It has underperformed by 12.57% the S&P500.

More recent The Lovesac Company (NASDAQ:LOVE) news were published by: Benzinga.com which released: “The Week Ahead: FANG Earnings Continue, Fox Vote On Disney Deal, More IPOs” on July 23, 2018. Also Streetinsider.com published the news titled: “Roth Capital Starts The Lovesac Co. (LOVE) at Buy” on July 23, 2018. Benzinga.com‘s news article titled: “The Week Ahead: Earnings From Disney, Roku And Snap, Rite Aid Votes On Albertsons Deal” with publication date: August 06, 2018 was also an interesting one.

The Lovesac Company designs, manufactures, and sells foam filled furniture, sectional couches, and related accessories. The company has market cap of $271.06 million. It offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and accessories comprising drink holders, footsac blankets, decorative pillows, fitted seat tables, and ottomans. It currently has negative earnings. The firm markets its products through its 66 showrooms at top tier malls and lifestyle centers in 29 states of the United States, as well as through online.

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