What Will Happen to AVX Corporation (AVXS) Next? The Stock Formed a Several Months Descending Triangle Chart Pattern

July 17, 2017 - By Maria Brooks

The stock of AVX Corporation (AVXS) formed a descending triangle with $18.52 target or 8.00 % above today’s $17.15 share price. The 8 months triangle pattern indicates low risk for the $2.88B company. If the $18.52 price target is reached, the company will be worth $230.40 million more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock increased 0.65% or $0.11 during the last trading session, reaching $17.15. About 145,406 shares traded. AVX Corporation (NYSE:AVX) has risen 26.38% since July 17, 2016 and is uptrending. It has outperformed by 9.68% the S&P500.

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