Could Advent/Claymore Enhanced Growth & Income Fund (LCM) Recover After Forming a Bearish Multiple Bottom?

July 14, 2018 - By Harriett Tippett

The stock of Advent/Claymore Enhanced Growth & Income Fund (LCM) shows a multiple bottoms pattern with $7.52 target or 3.00 % below today’s $7.75 share price. The 9 months chart pattern indicates high risk for the $71.16M company. It was reported on Jul, 14 by Finviz.com. If the $7.52 price target is reached, the company will be worth $2.13M less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 0.39% or $0.03 during the last trading session, reaching $7.75. About 33,778 shares traded. Advent/Claymore Enhanced Growth & Income Fund (NYSE:LCM) has declined 10.74% since July 14, 2017 and is downtrending. It has underperformed by 23.31% the S&P500.

Advent/Claymore Enhanced Growth & Income Fund is a closed-ended balanced mutual fund launched by Guggenheim Partners, LLC. The company has market cap of $71.16 million. The fund is co-managed by Advent Capital Management, LLC and Guggenheim Funds Investment Advisors, LLC. It has a 5.45 P/E ratio. It invests in public equity and fixed income markets across the globe.

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