After Forming Bearish Wedge Down, Is Ocean Bio-Chem, Inc. (OBCI)’s Near-Term Analysis Negative?

February 15, 2018 - By Adrian Mccoy

Investors sentiment increased to 4 in 2017 Q3. Its up 1.00, from 3 in 2017Q2. It increased, as 0 investors sold Ocean Bio-Chem, Inc. shares while 2 reduced holdings. 0 funds opened positions while 8 raised stakes. 654,064 shares or 193.12% more from 223,136 shares in 2017Q2 were reported.
California Pub Employees Retirement System has invested 0% in Ocean Bio-Chem, Inc. (NASDAQ:OBCI). Geode Cap Mgmt Lc invested 0% in Ocean Bio-Chem, Inc. (NASDAQ:OBCI). Moreover, Deutsche Comml Bank Ag has 0% invested in Ocean Bio-Chem, Inc. (NASDAQ:OBCI). Blackrock accumulated 12,459 shares. James Research invested in 0% or 13,750 shares. 18,557 are owned by Dimensional Fund Limited Partnership. Panagora Asset has 0% invested in Ocean Bio-Chem, Inc. (NASDAQ:OBCI). Vanguard Grp stated it has 0% in Ocean Bio-Chem, Inc. (NASDAQ:OBCI). Renaissance Techs Lc stated it has 0% of its portfolio in Ocean Bio-Chem, Inc. (NASDAQ:OBCI). Essex Inv Mgmt Ltd Llc has 0.06% invested in Ocean Bio-Chem, Inc. (NASDAQ:OBCI). 370 are held by Morgan Stanley.

The stock of Ocean Bio-Chem, Inc. (OBCI) formed a down wedge with $3.77 target or 6.00 % below today’s $4.01 share price. The 6 months wedge indicates high risk for the $37.06M company. If the $3.77 price target is reached, the company will be worth $2.22M 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 2.13% or $0.0836 during the last trading session, reaching $4.0136. About 101 shares traded. Ocean Bio-Chem, Inc. (NASDAQ:OBCI) has risen 96.36% since February 15, 2017 and is uptrending. It has outperformed by 79.66% the S&P500.

More notable recent Ocean Bio-Chem, Inc. (NASDAQ:OBCI) news were published by: Prnewswire.com which released: “Ocean Bio-Chem, Inc. Reports Third Quarter and Nine Month Financial Results” on November 14, 2017, also Streetinsider.com with their article: “Form 8-K OCEAN BIO CHEM INC For: Jan 17” published on January 18, 2018, Quotes.Wsj.com published: “Ocean Bio-Chem Inc. OBCI (US: Nasdaq)” on February 12, 2011. More interesting news about Ocean Bio-Chem, Inc. (NASDAQ:OBCI) were released by: Thestreet.com and their article: “Ocean Bio-Chem (OBCI) Stock Surges After Q2 Earnings” published on August 15, 2016 as well as Prnewswire.com‘s news article titled: “Ocean Bio-Chem, Inc. Reports Record 2017 & Fourth Quarter 2017 Net Sales and …” with publication date: January 17, 2018.

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