What’s Propelling Silicom Ltd. (SILC) to Increase? The Stock Formed a Multiple Top Chart Pattern

March 20, 2018 - By Vivian Park

The stock of Silicom Ltd. (SILC) shows a multiple tops pattern with $40.27 target or 8.00 % above today’s $37.29 share price. The 8 months chart pattern indicates low risk for the $281.52M company. It was reported on Mar, 20 by Finviz.com. If the $40.27 price target is reached, the company will be worth $22.52 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 2.76% or $1 during the last trading session, reaching $37.29. About 228,736 shares traded or 74.26% up from the average. Silicom Ltd. (NASDAQ:SILC) has risen 96.23% since March 20, 2017 and is uptrending. It has outperformed by 79.53% the S&P500.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.