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 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.

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: