Could Giga-tronics, Incorporated (GIGA) See a Reversal After Having Formed Several Months Ascending Triangle Pattern

July 18, 2017 - By Ellis Scott

Investors sentiment decreased to 0.5 in Q4 2016. Its down 0.67, from 1.17 in 2016Q3. It fall, as 2 investors sold Giga-tronics, Incorporated shares while 4 reduced holdings. 0 funds opened positions while 3 raised stakes. 269,675 shares or 25.73% less from 363,107 shares in 2016Q3 were reported.
Goldman Sachs Inc reported 28,386 shares or 0% of all its holdings. California Employees Retirement Systems has invested 0% in Giga-tronics, Incorporated (NASDAQ:GIGA). Kcg owns 11,127 shares. Blackrock Fund Advisors holds 0% or 905 shares in its portfolio. Manufacturers Life Ins The has invested 0% of its portfolio in Giga-tronics, Incorporated (NASDAQ:GIGA). Bankshares Of America Corporation De invested in 1,678 shares or 0% of the stock. Vanguard owns 33,345 shares. Moreover, Geode Mgmt has 0% invested in Giga-tronics, Incorporated (NASDAQ:GIGA). Northern Trust Corp, Illinois-based fund reported 10,375 shares. Mirador Cap Prns L P invested 0.02% in Giga-tronics, Incorporated (NASDAQ:GIGA). Millennium Management Limited Liability reported 0% stake.

The stock of Giga-tronics, Incorporated (GIGA) formed an ascending triangle with $0.79 target or 3.00 % below today’s $0.81 share price. The 6 months triangle pattern indicates high risk for the $7.87 million company. If the $0.79 price target is reached, the company will be worth $236,100 less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

The stock increased 0.51% or $0.004 on July 17, reaching $0.814. About shares traded. Giga-tronics, Incorporated (NASDAQ:GIGA) has declined 26.56% since July 18, 2016 and is downtrending. It has underperformed by 43.26% the S&P500.

More notable recent Giga-tronics, Incorporated (NASDAQ:GIGA) news were published by: Seekingalpha.com which released: “Giga-tronics’ (GIGA) CEO Joey Thompson on Q3 2017 Results – Earnings Call …” on February 07, 2017, also Seekingalpha.com with their article: “Giga-tronics’ (GIGA) CEO John Regazzi on Q1 2017 Results – Earnings Call …” published on August 09, 2016, Marketwatch.com published: “0.83” on June 30, 2010. More interesting news about Giga-tronics, Incorporated (NASDAQ:GIGA) were released by: Globenewswire.com and their article: “Giga-tronics Reports Results for the Fourth Quarter and FY 2017” published on June 20, 2017 as well as Quotes.Wsj.com‘s news article titled: “Giga-Tronics Inc.” with publication date: February 11, 2011.

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