What’s SGOCO Group, Ltd. (SGOC) Upside After Forming Bullish Descending Triangle Pattern?

September 8, 2018 - By Matthew Richard

The stock of SGOCO Group, Ltd. (SGOC) formed a descending triangle with $1.12 target or 8.00 % above today’s $1.04 share price. The 6 months triangle pattern indicates low risk for the $25.78M company. If the $1.12 price target is reached, the company will be worth $2.06 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 3.94% or $0.0425 during the last trading session, reaching $1.0375. About 6,833 shares traded. SGOCO Group, Ltd. (NASDAQ:SGOC) has declined 19.00% since September 8, 2017 and is downtrending. It has underperformed by 31.57% the S&P500.

SGOCO Group, Ltd. engages in product design, distribution, and brand development in the display and computer product market in China and internationally. The company has market cap of $25.78 million. The firm also provides energy saving services and products. It currently has negative earnings. The Company’s products include LCD/LED monitors; all-in-one and part-in-one computers; and application-specific LCD/LED display products, such as tablet PCs for commercial and consumer use, e-reader notebooks, cell phone devices, mobile Internet devices, e-boards, rotating screens, CCTV monitors for security systems, billboard monitors for advertising, public notice systems, touch screens for non-keyed entries, and phase change material thermal energy storage.

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