Traders Are Bearish Ciner Resources LP (CINR) After The Stock Formed Bearish Multiple Bottom

July 18, 2017 - By Ellis Scott

The stock of Ciner Resources LP (CINR) shows a multiple bottoms pattern with $25.76 target or 7.00 % below today’s $27.70 share price. The 6 months chart pattern indicates high risk for the $561.80 million company. It was reported on Jul, 18 by Finviz.com. If the $25.76 price target is reached, the company will be worth $39.33M 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 increased 0.69% or $0.19 on July 17, reaching $27.7. About shares traded. Ciner Resources LP (NYSE:CINR) has risen 1.41% since July 18, 2016 and is uptrending. It has underperformed by 15.29% the S&P500.

Ciner Resources LP (NYSE:CINR) Ratings Coverage

Among 4 analysts covering Ciner Resources (NYSE:CINR), 2 have Buy rating, 0 Sell and 2 Hold. Therefore 50% are positive. Ciner Resources had 4 analyst reports since April 12, 2016 according to SRatingsIntel. On Monday, April 18 the stock rating was maintained by Citigroup with “Neutral”. FBR Capital initiated Ciner Resources LP (NYSE:CINR) on Tuesday, April 12 with “Outperform” rating. The firm has “Neutral” rating given on Friday, October 7 by DA Davidson. The company was initiated on Tuesday, April 19 by Ladenburg Thalmann.

More notable recent Ciner Resources LP (NYSE:CINR) news were published by: Seekingalpha.com which released: “IPO Preview: OCI Resources LP” on September 12, 2013, also Seekingalpha.com with their article: “Yield 9.5%, Good Valuation – Buy OCI Resources LP” published on October 18, 2015, Nasdaq.com published: “Ciner Resources LP (CINR) Ex-Dividend Date Scheduled for January 27, 2016” on January 26, 2016. More interesting news about Ciner Resources LP (NYSE:CINR) were released by: Marketwatch.com and their article: “27.2001” published on November 09, 2015 as well as Businesswire.com‘s news article titled: “Ciner Resources LP Announces First Quarter 2017 Financial Results” with publication date: May 08, 2017.

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