Could Electro-Sensors, Inc. (ELSE) Go Up? The Stock Formed Bullish Descending Triangle Chart Pattern

May 17, 2018 - By Ann Prendergast

Electro-Sensors, Inc. (NASDAQ:ELSE) Logo

Investors sentiment increased to 3 in Q4 2017. Its up 2.00, from 1 in 2017Q3. It improved, as 1 investors sold Electro-Sensors, Inc. shares while 0 reduced holdings. 2 funds opened positions while 1 raised stakes. 106,317 shares or 46.48% more from 72,583 shares in 2017Q3 were reported.
Renaissance Tech Limited Liability has invested 0% in Electro-Sensors, Inc. (NASDAQ:ELSE). Blackrock Inc has invested 0% in Electro-Sensors, Inc. (NASDAQ:ELSE). Deutsche National Bank Ag owns 5,856 shares for 0% of their portfolio. Royal Bancorp Of Canada holds 16,538 shares or 0% of its portfolio. Wells Fargo And Mn owns 1 shares.

The stock of Electro-Sensors, Inc. (ELSE) formed a descending triangle with $4.29 target or 9.00 % above today’s $3.94 share price. The 7 months triangle pattern indicates low risk for the $13.38M company. If the $4.29 price target is reached, the company will be worth $1.20M 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 increased 0.51% or $0.02 during the last trading session, reaching $3.94. About 45 shares traded. Electro-Sensors, Inc. (NASDAQ:ELSE) has declined 7.86% since May 17, 2017 and is downtrending. It has underperformed by 19.41% the S&P500.

Another recent and important Electro-Sensors, Inc. (NASDAQ:ELSE) news was published by Prnewswire.com which published an article titled: “Electro-Sensors, Inc. Announces First Quarter 2018 Financial Results” on May 10, 2018.

Electro-Sensors, Inc. manufactures and sells industrial production monitoring and process control systems. The company has market cap of $13.38 million. It makes and sells various monitoring systems that measure machine production and operation rates, as well as systems that regulate the speed of related machines in production processes. It has a 45.29 P/E ratio. The company's speed monitoring systems include a line of products that measure production counts or rates, such as parts, gallons, or board feet; and alarm systems, tachometers, and other devices that translate impulses from the sensors.

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