Could RMG Networks Holding Corporation (RMGN) Go Down? The Stock Formed Bearish Multiple Bottom

March 21, 2018 - By Dolores Ford

The stock of RMG Networks Holding Corporation (RMGN) shows a multiple bottoms pattern with $1.08 target or 4.00 % below today’s $1.12 share price. The 5 months chart pattern indicates high risk for the $12.50 million company. It was reported on Mar, 21 by If the $1.08 price target is reached, the company will be worth $499,800 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 3.45% or $0.04 during the last trading session, reaching $1.12. About 60,788 shares traded. RMG Networks Holding Corporation (NASDAQ:RMGN) has declined 27.40% since March 21, 2017 and is downtrending. It has underperformed by 44.10% the S&P500.

RMG Networks Holding Corporation (NASDAQ:RMGN) Ratings Coverage

Among 2 analysts covering RMG Networks Holding Corporation (NASDAQ:RMGN), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. RMG Networks Holding Corporation has $3.0 highest and $1.1000 lowest target. $2.10’s average target is 87.50% above currents $1.12 stock price. RMG Networks Holding Corporation had 6 analyst reports since August 28, 2015 according to SRatingsIntel. The rating was maintained by Roth Capital on Wednesday, November 1 with “Buy”. Roth Capital initiated it with “Buy” rating and $1.20 target in Friday, August 28 report. Roth Capital maintained RMG Networks Holding Corporation (NASDAQ:RMGN) rating on Tuesday, August 1. Roth Capital has “Buy” rating and $1.1000 target. The rating was downgraded by Roth Capital to “Neutral” on Wednesday, November 8. On Friday, March 11 the stock rating was maintained by Roth Capital with “Buy”. TH Capital initiated RMG Networks Holding Corporation (NASDAQ:RMGN) rating on Friday, August 28. TH Capital has “Buy” rating and $1.2 target.

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