A Reversal for China Online Education Group (COE) Is Not Near. The Formed Double Bottom

July 14, 2018 - By James Guidry

The chart of China Online Education Group (COE) shows a double bottom with $9.80 target or 6.00 % below today’s $10.43 share price. The 6 months chart pattern indicates high risk for the $210.58 million company. It was reported on Jul, 14 by Finviz.com. If the $9.80 price target is reached, the company will be worth $12.63M less. Double bottoms are rare but powerful chart patterns.

The stock increased 2.66% or $0.27 during the last trading session, reaching $10.43. About 1,008 shares traded. China Online Education Group (NYSE:COE) has declined 30.79% since July 14, 2017 and is downtrending. It has underperformed by 43.36% the S&P500.

China Online Education Group, through its subsidiaries, provides online English language education services to students in the People's Republic of China and the Philippines. The company has market cap of $210.58 million. It operates online and mobile education platforms that enable students to take one-on-one live interactive English lessons with international foreign teachers. It currently has negative earnings. The company's flagship courses include Classic English and Classic English Junior for the development of English communication skills.

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