Alcentra Capital Corporation (ABDC) Formed a Bullish Descending Triangle Chart Pattern, Could Be One of The Best Performers Soon

September 8, 2018 - By Jack Shaw

The stock of Alcentra Capital Corporation (ABDC) formed a descending triangle with $6.47 target or 5.00 % above today’s $6.16 share price. The 8 months triangle pattern indicates low risk for the $83.34M company. If the $6.47 price target is reached, the company will be worth $4.17M 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.

It closed at $6.16 lastly. It is down 50.52% since September 8, 2017 and is downtrending. It has underperformed by 63.09% the S&P500.

Analysts await Alcentra Capital Corporation (NASDAQ:ABDC) to report earnings on November, 5. They expect $0.21 earnings per share, down 38.24 % or $0.13 from last year’s $0.34 per share. ABDC’s profit will be $2.84M for 7.33 P/E if the $0.21 EPS becomes a reality. After $0.25 actual earnings per share reported by Alcentra Capital Corporation for the previous quarter, Wall Street now forecasts -16.00 % negative EPS growth.

Another recent and important Alcentra Capital Corporation (NASDAQ:ABDC) news was published by Seekingalpha.com which published an article titled: “Alcentra Capital Corporation (ABDC) CEO Vijay Rajguru on Q2 2018 Results – Earnings Call Transcript” on August 11, 2018.

Alcentra Capital Corporation is a business development firm specializing in investments in lower middle-market companies. The company has market cap of $83.34 million. The fund seeks to invest in healthcare, business services, defense, government services, telecom and technology, media, infrastructure maintenance and logistics, and gas and oil services sector. It currently has negative earnings. It focuses on investment opportunities headquartered in North America.

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