The Central and Eastern Europe (CEE) Stock Faces Lower Risks Forward After Forming Multiple Top Pattern

December 8, 2017 - By Peter Erickson

Investors sentiment increased to 1.33 in 2017 Q2. Its up 0.13, from 1.2 in 2017Q1. It increased, as 0 investors sold The Central and Eastern Europe shares while 6 reduced holdings. 4 funds opened positions while 4 raised stakes. 4.21 million shares or 8.04% less from 4.58 million shares in 2017Q1 were reported.
Pnc Fincl Group Inc invested in 0% or 3,708 shares. Montgomery Investment Mgmt reported 20,507 shares stake. Thomas J Herzfeld Advsr Incorporated holds 0.02% of its portfolio in The Central and Eastern Europe (NYSE:CEE) for 1,779 shares. Tower Research Cap Limited Liability Corporation (Trc) holds 128 shares. Barclays Pcl owns 700 shares. City Of London Inv Mgmt Ltd has invested 2.42% in The Central and Eastern Europe (NYSE:CEE). National Bank & Trust Of America De holds 5,253 shares or 0% of its portfolio. New York-based Lazard Asset Mgmt Limited Liability Company has invested 0.05% in The Central and Eastern Europe (NYSE:CEE). Meridian Investment Counsel accumulated 26,471 shares or 0.35% of the stock. 1607 Capital Prns Limited Liability Corp stated it has 0.43% of its portfolio in The Central and Eastern Europe (NYSE:CEE). Sii Wi holds 45,460 shares or 0.06% of its portfolio. Wells Fargo Mn invested in 0% or 632,945 shares. Wolverine Asset Mngmt Limited Liability Com has invested 0.01% of its portfolio in The Central and Eastern Europe (NYSE:CEE). Moreover, Gabelli Funds Limited Liability has 0.02% invested in The Central and Eastern Europe (NYSE:CEE). Cornerstone Advsr Inc invested 0.16% of its portfolio in The Central and Eastern Europe (NYSE:CEE).

The stock of The Central and Eastern Europe (CEE) shows a multiple tops pattern with $25.97 target or 7.00 % above today’s $24.27 share price. The 9 months chart pattern indicates low risk for the $180.39 million company. It was reported on Dec, 8 by Finviz.com. If the $25.97 price target is reached, the company will be worth $12.63M more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock decreased 2.06% or $0.51 during the last trading session, reaching $24.27. About 3,297 shares traded. The Central and Eastern Europe (NYSE:CEE) has risen 21.02% since December 8, 2016 and is uptrending. It has outperformed by 4.32% the S&P500.

More recent The Central and Eastern Europe (NYSE:CEE) news were published by: Reuters.com which released: “Hungary to invest 100 mln euros in China’s central and eastern Europe fund” on November 30, 2017. Also Businesswire.com published the news titled: “The Central and Eastern Europe Fund, Inc., The European Equity Fund, Inc., and …” on July 31, 2017. Forbes.com‘s news article titled: “China’s Bid To Buy Eastern Europe On The Cheap: The ’16+1’ Group” with publication date: November 27, 2017 was also an interesting one.

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