Could Astrotech Corp (ASTC) Change Direction After This Wedge Down Pattern

August 9, 2017 - By Peter Erickson

Investors sentiment increased to 2.5 in 2016 Q4. Its up 0.50, from 2 in 2016Q3. It is positive, as 2 investors sold Astrotech Corp shares while 2 reduced holdings. 5 funds opened positions while 5 raised stakes. 2.83 million shares or 0.13% more from 2.83 million shares in 2016Q3 were reported.
Kcg holds 0% or 11,977 shares in its portfolio. 22,800 were reported by Messner And Smith Theme Value Inv Ltd Ca. Renaissance Techs Limited Liability reported 11,200 shares stake. Blackrock Inv Llc reported 0% in Astrotech Corp (NASDAQ:ASTC). Beck Management Lc reported 1.91M shares stake. Blackrock Fund Advsrs reported 0% of its portfolio in Astrotech Corp (NASDAQ:ASTC). Northern Tru, a Illinois-based fund reported 35,604 shares. The Germany-based Deutsche Bank Ag has invested 0% in Astrotech Corp (NASDAQ:ASTC). Kansas-based Creative Planning has invested 0% in Astrotech Corp (NASDAQ:ASTC). Manufacturers Life Insurance The invested in 0% or 391 shares. The Pennsylvania-based Susquehanna Gru Llp has invested 0% in Astrotech Corp (NASDAQ:ASTC). Vanguard Group holds 530,180 shares or 0% of its portfolio. Citadel Advisors Limited Company holds 12,012 shares or 0% of its portfolio. Price T Rowe Associates Md holds 28,897 shares. Geode Cap Management Ltd Liability Corp owns 0% invested in Astrotech Corp (NASDAQ:ASTC) for 51,802 shares.

The stock of Astrotech Corp (ASTC) formed a down wedge with $0.73 target or 8.00 % below today’s $0.79 share price. The 8 months wedge indicates high risk for the $16.25 million company. If the $0.73 price target is reached, the company will be worth $1.30M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 9.72% or $0.07 on August 8, reaching $0.79. About shares traded. Astrotech Corp (NASDAQ:ASTC) has declined 33.73% since August 9, 2016 and is downtrending. It has underperformed by 50.43% the S&P500.

More notable recent Astrotech Corp (NASDAQ:ASTC) news were published by: Bizjournals.com which released: “Astrotech posts Q2 loss but ready for 1st Detect buying spree” on February 18, 2015, also Seekingalpha.com with their article: “Astrotech – A Hedge Against Terror, 50% To 80% Undervalued” published on March 23, 2016, Seekingalpha.com published: “Astrotech Is Still Significantly Undervalued Despite Recent Move” on October 17, 2013. More interesting news about Astrotech Corp (NASDAQ:ASTC) were released by: Businesswire.com and their article: “Detect to Pursue Strategic Alternatives” published on May 10, 2017 as well as Bizjournals.com‘s news article titled: “Austin aerospace company to sell unit to Lockheed Martin for $61M” with publication date: May 29, 2014.

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