IKONICS Corporation (IKNX) Stock Faces Lower Risks Forward After Forming Wedge Up Chart Pattern

September 16, 2018 - By James Guidry

IKONICS Corporation (NASDAQ:IKNX) Logo

Investors sentiment decreased to 1 in Q2 2018. Its down 2.00, from 3 in 2018Q1. It fall, as 0 investors sold IKONICS Corporation shares while 3 reduced holdings. 2 funds opened positions while 1 raised stakes. 37,574 shares or 25.47% more from 29,946 shares in 2018Q1 were reported.
Deutsche National Bank & Trust Ag holds 1,400 shares or 0% of its portfolio. Blackrock, a New York-based fund reported 237 shares. Susquehanna Intll Gp Ltd Liability Partnership accumulated 19,531 shares. Royal Comml Bank Of Canada reported 1,300 shares. Vanguard Group Inc invested in 10,589 shares or 0% of the stock. Morgan Stanley accumulated 0% or 1,501 shares. Us Bancorp De reported 3,000 shares. Tower Research Lc (Trc) owns 16 shares or 0% of their US portfolio.

Since May 1, 2018, it had 1 insider buy, and 0 sales for $20,624 activity.

The stock of IKONICS Corporation (IKNX) formed an up wedge with $11.45 target or 9.00 % above today’s $10.50 share price. The 8 months wedge indicates low risk for the $20.83 million company. If the $11.45 price target is reached, the company will be worth $1.87 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 2.44% or $0.25 during the last trading session, reaching $10.5. About 307 shares traded. IKONICS Corporation (NASDAQ:IKNX) has risen 11.37% since September 16, 2017 and is uptrending. It has underperformed by 4.25% the S&P500.

IKONICS Corporation develops, manufactures, and sells photosensitive liquids and films for the screen printing, and awards and recognition industries primarily in the United States. The company has market cap of $20.83 million. It operates through five divisions: Domestic, Export, IKONICS Imaging, Digital Texturing Technology, and Advanced Material Solutions. It has a 76.64 P/E ratio. The firm sells screen printing films, emulsions, and inkjet receptive films to distributors; and photo resistant films, art supplies, glass, metal medium, and related abrasive etching equipment to end user customers.

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