Could IKONICS Corporation (IKNX) Change Direction After This Bullish Wedge Up Chart Pattern

September 16, 2018 - By Mary Kidd

IKONICS Corporation (NASDAQ:IKNX) Logo

Investors sentiment decreased to 1 in Q2 2018. Its down 2.00, from 3 in 2018Q1. It dropped, as 0 investors sold IKONICS Corporation shares while 3 reduced holdings. 2 funds opened positions while 1 raised stakes. 37,574 shares or 25.47% more from 29,946 shares in 2018Q1 were reported.
Vanguard Grp Inc Inc owns 10,589 shares or 0% of their US portfolio. Royal Bank & Trust Of Canada holds 0% in IKONICS Corporation (NASDAQ:IKNX) or 1,300 shares. Us Bancorp De holds 3,000 shares or 0% of its portfolio. Blackrock reported 237 shares stake. Deutsche Savings Bank Ag holds 0% of its portfolio in IKONICS Corporation (NASDAQ:IKNX) for 1,400 shares. Tower Research Cap Llc (Trc) accumulated 16 shares. Morgan Stanley has 1,501 shares. Pennsylvania-based Susquehanna Gp Limited Liability Partnership has invested 0% in IKONICS Corporation (NASDAQ:IKNX).

Since May 1, 2018, it had 1 insider buy, and 0 selling transactions for $20,624 activity.

The stock of IKONICS Corporation (IKNX) formed an up wedge with $11.45 target or 9.00 % above today’s $10.50 share price. The 8 months wedge indicates low risk for the $20.83 million company. If the $11.45 price target is reached, the company will be worth $1.87 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 2.44% or $0.25 during the last trading session, reaching $10.5. About 307 shares traded. IKONICS Corporation (NASDAQ:IKNX) has risen 11.37% since September 16, 2017 and is uptrending. It has underperformed by 4.25% the S&P500.

IKONICS Corporation develops, manufactures, and sells photosensitive liquids and films for the screen printing, and awards and recognition industries primarily in the United States. The company has market cap of $20.83 million. It operates through five divisions: Domestic, Export, IKONICS Imaging, Digital Texturing Technology, and Advanced Material Solutions. It has a 76.64 P/E ratio. The firm sells screen printing films, emulsions, and inkjet receptive films to distributors; and photo resistant films, art supplies, glass, metal medium, and related abrasive etching equipment to end user customers.

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