Brookfield Business Partners L.P. (BBU)’s Multiple Top Chart Pattern Points to Lower Stock Risks

August 10, 2018 - By Ann Prendergast

The stock of Brookfield Business Partners L.P. (BBU) shows a multiple tops pattern with $42.19 target or 4.00 % above today’s $40.57 share price. The 9 months chart pattern indicates low risk for the $5.25 billion company. It was reported on Aug, 10 by Finviz.com. If the $42.19 price target is reached, the company will be worth $209.80 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 0.77% or $0.31 during the last trading session, reaching $40.57. About 33,974 shares traded or 45.75% up from the average. Brookfield Business Partners L.P. (NYSE:BBU) has risen 50.84% since August 10, 2017 and is uptrending. It has outperformed by 38.27% the S&P500.

More notable recent Brookfield Business Partners L.P. (NYSE:BBU) news were published by: Seekingalpha.com which released: “GrafTech secondary offering and buyback” on August 08, 2018, also Seekingalpha.com with their article: “Brookfield Business Partners LP (BBU) on Q2 2018 Results – Earnings Call Transcript” published on August 03, 2018, Crainscleveland.com published: “GrafTech International sets terms of secondary offering, stock buyback” on August 09, 2018. More interesting news about Brookfield Business Partners L.P. (NYSE:BBU) were released by: Crainscleveland.com and their article: “GrafTech International announces launch of a secondary offering and a concurrent share buyback” published on August 09, 2018 as well as Nasdaq.com‘s news article titled: “Brookfield Business Partners Completes Acquisition of Westinghouse Electric Company” with publication date: August 01, 2018.

Brookfield Business Partners L.P. specializes in investments in business services and industrials sector. The company has market cap of $5.25 billion. It seeks returns of at least 15% on its investments. It currently has negative earnings. Brookfield Business Partners L.P. is based in Hamilton, Bermuda.

Brookfield Business Partners L.P. (NYSE:BBU) Ratings Chart

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