Is Taitron Components Incorporated (TAIT)’s Fuel Running High? The Stock Formed Bullish Multiple Top Chart Pattern

June 17, 2018 - By Jeanette Kaplan

Investors sentiment decreased to 0.17 in 2018 Q1. Its down 0.33, from 0.5 in 2017Q4. It turned negative, as 3 investors sold Taitron Components Incorporated shares while 3 reduced holdings. 1 funds opened positions while 0 raised stakes. 549,811 shares or 6.99% less from 591,148 shares in 2017Q4 were reported.
Tower Research Capital Ltd Liability Corp (Trc) holds 152 shares. Blackrock holds 0% of its portfolio in Taitron Components Incorporated (NASDAQ:TAIT) for 800 shares. Deutsche Financial Bank Ag reported 9,500 shares. Royal Retail Bank Of Canada holds 1 shares or 0% of its portfolio. Noesis Cap Mangement Corporation holds 459,158 shares. Renaissance Techs Limited Liability Corp holds 0% in Taitron Components Incorporated (NASDAQ:TAIT) or 80,200 shares.

The stock of Taitron Components Incorporated (TAIT) shows a multiple tops pattern with $1.85 target or 8.00 % above today’s $1.71 share price. The 6 months chart pattern indicates low risk for the $9.53 million company. It was reported on Jun, 17 by Finviz.com. If the $1.85 price target is reached, the company will be worth $762,080 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%.

It closed at $1.71 lastly. It is down 19.58% since June 17, 2017 and is uptrending. It has outperformed by 7.01% the S&P500.

Taitron Components Incorporated engages in the supply of original designed and manufactured electronic components, and distribution of brand name electronic components. The company has market cap of $9.53 million. It distributes discrete semiconductors, commodity integrated circuits, optoelectronic devices, passive components, transistors, and diodes. It currently has negative earnings. The firm also provides value-added engineering and turn-key solutions focusing on providing contract electronic manufacturers (CEMs) and original equipment manufacturers (OEMs) with ODM services for their turn-key projects.

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