Could AU Optronics Corp (ADR) (AUO) Change Direction After This Bearish H&S Pattern

November 7, 2017 - By reb123z

The stock of AU Optronics Corp (ADR) (AUO) formed H&S with $3.97 target or 3.00 % below today’s $4.09 share price. The 6 months Head & Shoulders indicates high risk for the $3.93B company. It was reported on Nov, 7 by Faxor.com. If the $3.97 price target is reached, the company will be worth $117.90 million less.
Head-and-shoulders are one of the best chart patterns to trade. They work in bear and bull markets and according to many researchers have very low failure rate. Even thought they have high pullback rate, such patters usually provide good risk-reward entry opportunities. The percentage of stocks meeting price targets is 55%.

About 328,474 shares traded. AU Optronics Corp (ADR) (NYSE:AUO) has risen 56.22% since November 7, 2016 and is uptrending. It has outperformed by 39.52% the S&P500.

AU Optronics Corp (ADR) (NYSE:AUO) Ratings Coverage

Among 10 analysts covering AU Optronics (NYSE:AUO), 2 have Buy rating, 2 Sell and 6 Hold. Therefore 20% are positive. AU Optronics had 13 analyst reports since July 30, 2015 according to SRatingsIntel. On Friday, October 28 the stock rating was downgraded by Nomura to “Neutral”. The rating was downgraded by Morgan Stanley to “Hold” on Tuesday, August 15. Drexel Hamilton maintained the stock with “Hold” rating in Tuesday, August 8 report. The company was maintained on Thursday, July 27 by Drexel Hamilton. The stock of AU Optronics Corp (ADR) (NYSE:AUO) has “Neutral” rating given on Thursday, July 30 by KGI Securities. As per Thursday, July 30, the company rating was downgraded by Fubon Bank. Citigroup upgraded AU Optronics Corp (ADR) (NYSE:AUO) on Thursday, April 7 to “Sell” rating. The rating was downgraded by Bernstein to “Market Perform” on Friday, September 9. The firm earned “Outperform” rating on Wednesday, June 29 by Credit Suisse. The stock of AU Optronics Corp (ADR) (NYSE:AUO) earned “Buy” rating by Bank of America on Tuesday, July 19.

More news for AU Optronics Corp (ADR) (NYSE:AUO) were recently published by: Seekingalpha.com, which released: “AU Optronics: Improving Trends, Apple Evidence Building” on July 01, 2016. Marketwatch.com‘s article titled: “4.26” and published on December 21, 2009 is yet another important article.

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