Is Major Move Coming For Micronet Enertec Technologies Inc (MICT) After This Bearish Wedge Down Pattern?

August 8, 2017 - By Vivian Park

Investors sentiment decreased to 0.75 in Q4 2016. Its down 0.75, from 1.5 in 2016Q3. It turned negative, as 1 investors sold Micronet Enertec Technologies Inc shares while 3 reduced holdings. 1 funds opened positions while 2 raised stakes. 176,570 shares or 10.44% less from 197,162 shares in 2016Q3 were reported.
Geode Mgmt Llc reported 0% of its portfolio in Micronet Enertec Technologies Inc (NASDAQ:MICT). Citigroup Inc, a New York-based fund reported 1,000 shares. Deutsche Bancorp Ag holds 0% or 564 shares. 13,544 were reported by Vanguard Gru. 156 are owned by National Bank & Trust Of America Corp De. Blackrock Fund Advsrs has 2,367 shares. Blackrock Institutional Trust Company Na holds 0% in Micronet Enertec Technologies Inc (NASDAQ:MICT) or 3,910 shares. Bard Assoc invested in 143,440 shares.

The stock of Micronet Enertec Technologies Inc (MICT) formed a down wedge with $0.77 target or 9.00 % below today’s $0.85 share price. The 7 months wedge indicates high risk for the $5.79M company. If the $0.77 price target is reached, the company will be worth $521,100 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 2.14% or $0.018 during the last trading session, reaching $0.849. About shares traded. Micronet Enertec Technologies Inc (NASDAQ:MICT) has declined 31.74% since August 8, 2016 and is downtrending. It has underperformed by 48.44% the S&P500.

More notable recent Micronet Enertec Technologies Inc (NASDAQ:MICT) news were published by: Prnewswire.com which released: “Micronet Enertec Technologies Reports Third Quarter 2016 Revenues” on November 14, 2016, also Prnewswire.com with their article: “Micronet Enertec Technologies, Inc. Announces its Subsidiary’s Financial Results” published on March 31, 2016, Prnewswire.com published: “Micronet Enertec Technologies, Inc. Announces Definitive Agreement to Acquire …” on February 18, 2016. More interesting news about Micronet Enertec Technologies Inc (NASDAQ:MICT) were released by: Quotes.Wsj.com and their article: “Micronet Enertec Technologies Inc.” published on February 02, 2012 as well as Prnewswire.com‘s news article titled: “Micronet Enertec Technologies, Inc. Received $900000 Purchase Order for …” with publication date: September 19, 2016.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.