What Will Happen to BIOLASE, Inc. (BIOL) Next? The Stock Formed a Several Months Wedge Down Chart Pattern

May 16, 2018 - By Richard Conner


Investors sentiment increased to 1.31 in 2017 Q4. Its up 0.52, from 0.79 in 2017Q3. It improved, as 7 investors sold BIOLASE, Inc. shares while 6 reduced holdings. 6 funds opened positions while 11 raised stakes. 36.99 million shares or 25.59% more from 29.45 million shares in 2017Q3 were reported.
Royal Comml Bank Of Canada has 0% invested in BIOLASE, Inc. (NASDAQ:BIOL) for 1,138 shares. Blackrock Inc accumulated 0% or 1.43 million shares. Vanguard Group has 0% invested in BIOLASE, Inc. (NASDAQ:BIOL) for 1.30M shares. 57 are held by Deutsche Retail Bank Ag. Oracle Management owns 30.87 million shares for 2.61% of their portfolio. Morgan Stanley has 80,903 shares for 0% of their portfolio. Bancorp Of America Corp De invested in 0% or 1,964 shares. California Employees Retirement System, California-based fund reported 167,116 shares. Moreover, Wells Fargo And Mn has 0% invested in BIOLASE, Inc. (NASDAQ:BIOL) for 242 shares. Teton Advisors reported 459,606 shares or 0.02% of all its holdings. Susquehanna Intl Grp Llp, Pennsylvania-based fund reported 19,501 shares. Northern Tru Corporation holds 0% of its portfolio in BIOLASE, Inc. (NASDAQ:BIOL) for 113,675 shares. Prescott Group Capital Ltd Liability stated it has 0% in BIOLASE, Inc. (NASDAQ:BIOL). Evergreen Capital Management Limited Co accumulated 17,500 shares. Goldman Sachs Group owns 24,338 shares.

The stock of BIOLASE, Inc. (BIOL) formed a down wedge with $1.36 target or 7.00 % below today’s $1.46 share price. The 5 months wedge indicates high risk for the $29.87M company. If the $1.36 price target is reached, the company will be worth $2.09 million 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 5.72% or $0.079 during the last trading session, reaching $1.459. About 87,192 shares traded or 132.97% up from the average. BIOLASE, Inc. (NASDAQ:BIOL) has declined 67.19% since May 16, 2017 and is downtrending. It has underperformed by 78.74% the S&P500.

More notable recent BIOLASE, Inc. (NASDAQ:BIOL) news were published by: Streetinsider.com which released: “Biolase (BIOL) Reports 1-for-5 Reverse Stock Split; Will Begin Trading On Split-Adjusted Basis On May 11” on May 10, 2018, also Ocbj.com with their article: “Midday Stock Roundup” published on May 11, 2018, Prnewswire.com published: “Biolase Announces 1-for-5 Reverse Stock Split Common Stock Will Begin Trading On Split-Adjusted Basis On May 11” on May 10, 2018. More interesting news about BIOLASE, Inc. (NASDAQ:BIOL) were released by: Seekingalpha.com and their article: “Biolase’s (BIOL) CEO John Beaver on Q1 2018 Results – Earnings Call Transcript” published on May 02, 2018 as well as Benzinga.com‘s news article titled: “Benzinga’s Biggest Movers For The Week Of May 7, 2018” with publication date: May 11, 2018.

BIOLASE, Inc., a medical device company, develops, makes, markets, and sells laser systems in dentistry and medicine for patients and health care professionals in the United States and internationally. The company has market cap of $29.87 million. The firm offers Waterlase all-tissue dental laser systems for cutting soft and hard tissues; and diode laser systems, which are used to perform soft tissue, pain therapy, and cosmetic procedures, including teeth whitening. It currently has negative earnings. The Company’s dental laser systems allow dentists, periodontists, endodontists, oral surgeons, and other dental specialists to perform a range of dental procedures, such as cosmetic, restorative, and complex surgical applications.

BIOLASE, Inc. (NASDAQ:BIOL) Institutional Positions Chart

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