What’s RAVE Restaurant Group, Inc. (RAVE) Downside After Forming Multiple Bottom Chart Pattern?

March 13, 2018 - By Winifred Garcia

The stock of RAVE Restaurant Group, Inc. (RAVE) shows a multiple bottoms pattern with $1.45 target or 6.00 % below today’s $1.54 share price. The 6 months chart pattern indicates high risk for the $22.94M company. It was reported on Mar, 13 by Finviz.com. If the $1.45 price target is reached, the company will be worth $1.38M less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 1.91% or $0.03 during the last trading session, reaching $1.54. About 38,037 shares traded. RAVE Restaurant Group, Inc. (NASDAQ:RAVE) has declined 50.12% since March 13, 2017 and is downtrending. It has underperformed by 66.82% the S&P500.

RAVE Restaurant Group, Inc. (NASDAQ:RAVE) Ratings Coverage

Among 3 analysts covering RAVE Restaurant Group (NASDAQ:RAVE), 1 have Buy rating, 1 Sell and 1 Hold. Therefore 33% are positive. RAVE Restaurant Group has $14 highest and $5.40 lowest target. $9.70’s average target is 529.87% above currents $1.54 stock price. RAVE Restaurant Group had 4 analyst reports since October 16, 2015 according to SRatingsIntel. Roth Capital downgraded the stock to “Neutral” rating in Thursday, May 12 report. TheStreet downgraded the shares of RAVE in report on Friday, October 16 to “Sell” rating. Roth Capital maintained it with “Buy” rating and $14 target in Friday, November 13 report. On Friday, November 13 the stock rating was maintained by TH Capital with “Buy”.

More notable recent RAVE Restaurant Group, Inc. (NASDAQ:RAVE) news were published by: Prnewswire.com which released: “RAVE Restaurant Group, Inc. Reports First Fiscal Quarter 2018 Financial Results” on November 08, 2017, also Bizjournals.com with their article: “Exclusive: Rave Restaurant Group’s new CEO dishes on his role” published on January 10, 2017, Prnewswire.com published: “RAVE Restaurant Group, Inc. Reports Second Fiscal Quarter 2018 Financial Results” on February 06, 2018. More interesting news about RAVE Restaurant Group, Inc. (NASDAQ:RAVE) were released by: Prnewswire.com and their article: “RAVE Restaurant Group, Inc. Announces Equity Rights Offering” published on August 15, 2017 as well as Prnewswire.com‘s news article titled: “RAVE Restaurant Group, Inc. Reports Fourth Quarter and Fiscal Year 2016 …” with publication date: September 23, 2016.

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