Does This Provide a Reason to Buy Trecora Resources (TREC)? The Stock Has Formed Bullish Inverse H&S Pattern

May 17, 2018 - By James Guidry

The stock of Trecora Resources (TREC) formed H&SI with $14.09 price target or 4.00 % above the current $13.55 share price. The 8 months Head & Shoulders Inverse reveals low risk for the $329.57M company. This trade was featured by Faxor.com on May, 17. If the $14.09 target price is reached, the company’s valuation will be $13.18M more.
Inverse Head-and-shoulders are some of the best chart patterns to trade. These formations work as in bear as in bull markets and many researchers states that they have very low failure rates. Despite the high pullback rate, these trading patterns are usually good places to trade based on their risk-reward profile. Industry experts’s backtests show that 55% of these patterns reach their targets.

The stock increased 1.50% or $0.2 during the last trading session, reaching $13.55. About 4,617 shares traded. Trecora Resources (NYSE:TREC) has risen 26.29% since May 17, 2017 and is uptrending. It has outperformed by 14.74% the S&P500.

Analysts await Trecora Resources (NYSE:TREC) to report earnings on August, 2. They expect $0.15 EPS, up 400.00 % or $0.12 from last year’s $0.03 per share. TREC’s profit will be $3.65 million for 22.58 P/E if the $0.15 EPS becomes a reality. After $0.08 actual EPS reported by Trecora Resources for the previous quarter, Wall Street now forecasts 87.50 % EPS growth.

More news for Trecora Resources (NYSE:TREC) were recently published by: Seekingalpha.com, which released: “Trecora Resources’ (TREC) CEO Simon Upfill-Brown on Q1 2018 Results – Earnings Call Transcript” on May 02, 2018. Prnewswire.com‘s article titled: “Trecora Resources Announces Upcoming Financial Conference Schedule” and published on May 04, 2018 is yet another important article.

Trecora Resources primarily manufactures and sells various specialty hydrocarbons and synthetic waxes in the United States. The company has market cap of $329.57 million. The firm operates two divisions, Petrochemical and Specialty Waxes. It has a 18.09 P/E ratio. The Petrochemical segment offers hydrocarbons and other petroleum based products, such as isopentane, normal pentane, isohexane, and hexane used in the production of polyethylene, packaging, polypropylene, expandable polystyrene, poly-iso/urethane foams, and crude oil from the Canadian tar sands, as well as in the catalyst support industry.

Trecora Resources (NYSE:TREC) Ratings Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.




Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our free daily email newsletter: