Can Stellar Biotechnologies, Inc. (SBOT)’s Tomorrow be Different? The Stock Formed a Bearish Multiple Bottom

December 8, 2017 - By Ellis Scott

The stock of Stellar Biotechnologies, Inc. (SBOT) shows a multiple bottoms pattern with $1.02 target or 8.00 % below today’s $1.11 share price. The 8 months chart pattern indicates high risk for the $11.68M company. It was reported on Dec, 8 by Finviz.com. If the $1.02 price target is reached, the company will be worth $934,560 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 increased 1.78% or $0.0194 during the last trading session, reaching $1.1104. About 58,060 shares traded or 10.71% up from the average. Stellar Biotechnologies, Inc. (NASDAQ:SBOT) has declined 60.19% since December 8, 2016 and is downtrending. It has underperformed by 76.89% the S&P500.

Analysts await Stellar Biotechnologies, Inc. (NASDAQ:SBOT) to report earnings on December, 13. They expect $-0.14 EPS, down 7.69 % or $0.01 from last year’s $-0.13 per share. After $-0.12 actual EPS reported by Stellar Biotechnologies, Inc. for the previous quarter, Wall Street now forecasts 16.67 % negative EPS growth.

Another recent and important Stellar Biotechnologies, Inc. (NASDAQ:SBOT) news was published by Streetinsider.com which published an article titled: “Stellar Biotechnologies (SBOT) to Sell ‘Immunogen & Vaccine Technology’ to …” on March 13, 2017.

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