Is Selling Stock Like China Automotive Systems, Inc. (CAAS) After This Bearish Double Bottom Chart Pattern Winning Strategy?

May 17, 2018 - By Robert Crowder

Investors sentiment decreased to 0.82 in Q4 2017. Its down 1.35, from 2.17 in 2017Q3. It fall, as 5 investors sold China Automotive Systems, Inc. shares while 6 reduced holdings. 2 funds opened positions while 7 raised stakes. 1.65 million shares or 6.30% more from 1.56 million shares in 2017Q3 were reported.
Gabelli Funds invested 0% in China Automotive Systems, Inc. (NASDAQ:CAAS). Renaissance Techs Limited Com holds 0% or 461,033 shares. Macquarie Gru reported 0% of its portfolio in China Automotive Systems, Inc. (NASDAQ:CAAS). Grp One Trading Limited Partnership holds 0% in China Automotive Systems, Inc. (NASDAQ:CAAS) or 8,217 shares. Tower Rech Capital Ltd (Trc) holds 0% or 1,131 shares in its portfolio. 20,204 were reported by Myriad Asset Mgmt. Stuyvesant owns 37,907 shares. Geode Cap Mgmt Limited Liability Com invested in 0% or 13,333 shares. Moreover, Jpmorgan Chase has 0% invested in China Automotive Systems, Inc. (NASDAQ:CAAS). Deutsche Savings Bank Ag invested in 71,202 shares. Invesco Limited holds 67,370 shares. 2,604 are held by Morgan Stanley. Bankshares Of America Corp De invested 0% of its portfolio in China Automotive Systems, Inc. (NASDAQ:CAAS). Hanson Doremus reported 0.13% in China Automotive Systems, Inc. (NASDAQ:CAAS). Spark Management Limited Liability Corporation holds 0.02% in China Automotive Systems, Inc. (NASDAQ:CAAS) or 62,100 shares.

The chart of China Automotive Systems, Inc. (CAAS) shows a double bottom with $4.35 target or 3.00 % below today’s $4.48 share price. The 7 months chart pattern indicates high risk for the $141.77 million company. It was reported on May, 17 by Finviz.com. If the $4.35 price target is reached, the company will be worth $4.25M less. Double bottoms are rare but powerful chart patterns.

The stock increased 2.05% or $0.09 during the last trading session, reaching $4.48. About 32,928 shares traded or 63.01% up from the average. China Automotive Systems, Inc. (NASDAQ:CAAS) has declined 7.86% since May 17, 2017 and is downtrending. It has underperformed by 19.41% the S&P500.

Analysts await China Automotive Systems, Inc. (NASDAQ:CAAS) to report earnings on August, 9. They expect $0.18 EPS, down 35.71 % or $0.10 from last year’s $0.28 per share. CAAS’s profit will be $5.70M for 6.22 P/E if the $0.18 EPS becomes a reality. After $0.14 actual EPS reported by China Automotive Systems, Inc. for the previous quarter, Wall Street now forecasts 28.57 % EPS growth.

Another recent and important China Automotive Systems, Inc. (NASDAQ:CAAS) news was published by Prnewswire.com which published an article titled: “China Automotive Systems Establishes Joint Venture with KYB (China) Investment Co., Ltd. for EPS Systems” on May 03, 2018.

China Automotive Systems, Inc., through its subsidiaries, makes and sells automotive systems and components in the People's Republic of China, the United States, and internationally. The company has market cap of $141.77 million. It produces rack and pinion power steering gears for cars and light duty vehicles; integral power steering gears for heavy-duty vehicles; power steering parts for light duty vehicles; sensor modules; automobile steering systems and columns; and automobile electronic systems and parts. It currently has negative earnings. The firm is also involved in the marketing of automotive parts in North America, as well as the provision of after sales, and research and development support services.

China Automotive Systems, Inc. (NASDAQ:CAAS) Institutional Positions Chart

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