Cemtrex, Inc. (CETX) Stock Faces Higher Risks Forward After Forming Bearish Wedge Down Chart Pattern

January 18, 2018 - By Louis Casey

The stock of Cemtrex, Inc. (CETX) formed a down wedge with $2.80 target or 4.00 % below today’s $2.92 share price. The 9 months wedge indicates high risk for the $30.79 million company. If the $2.80 price target is reached, the company will be worth $1.23 million 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 1.84% or $0.05 during the last trading session, reaching $2.92. About 10,017 shares traded. Cemtrex, Inc. (NASDAQ:CETX) has risen 80.19% since January 18, 2017 and is uptrending. It has outperformed by 63.49% the S&P500.

More notable recent Cemtrex, Inc. (NASDAQ:CETX) news were published by: Prnewswire.com which released: “Cemtrex Announces Record Date for Series 1 Preferred Stock Dividend” on September 15, 2017, also Seekingalpha.com with their article: “Siegfried II: Cemtrex, Inc.” published on April 24, 2017, Globenewswire.com published: “Cemtrex Provides Update on the Launch Date of Smart Desk” on December 13, 2017. More interesting news about Cemtrex, Inc. (NASDAQ:CETX) were released by: Seekingalpha.com and their article: “Cemtrex, Inc. From The Perspective Of A Preferred Investor: An Update” published on January 14, 2018 as well as Seekingalpha.com‘s news article titled: “Cemtrex, Inc. From The Perspective Of A Preferred Investor” with publication date: October 04, 2017.

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