Fuwei Films (FFHL) on Focus After Forming Bearish Multiple Bottom

December 8, 2017 - By Stephen Andrade

The stock of Fuwei Films (FFHL) shows a multiple bottoms pattern with $2.43 target or 6.00 % below today’s $2.58 share price. The 9 months chart pattern indicates high risk for the $8.43M company. It was reported on Dec, 8 by Finviz.com. If the $2.43 price target is reached, the company will be worth $505,560 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 decreased 2.65% or $0.07 during the last trading session, reaching $2.58. About 14,912 shares traded. Fuwei Films (NASDAQ:Holdings Co., Ltd.) has 0.00% since December 8, 2016 and is . It has underperformed by 16.70% the S&P500.

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