Could Caesars Entertainment Corporation (CZR) Gain Strenght After Forming Ascending Triangle Pattern?

December 8, 2017 - By Vivian Currie

Investors sentiment decreased to 1.8 in 2017 Q2. Its down 0.29, from 2.09 in 2017Q1. It turned negative, as 24 investors sold Caesars Entertainment Corporation shares while 25 reduced holdings. 40 funds opened positions while 48 raised stakes. 112.87 million shares or 13.86% more from 99.13 million shares in 2017Q1 were reported.
1,253 were reported by Zurcher Kantonalbank (Zurich Cantonalbank). Millennium Management Ltd Llc holds 773,624 shares. Point72 Asia (Hong Kong) reported 0.01% of its portfolio in Caesars Entertainment Corporation (NASDAQ:CZR). Alliancebernstein L P stated it has 0% of its portfolio in Caesars Entertainment Corporation (NASDAQ:CZR). Tortoise Mngmt Limited Liability Com holds 0% or 500 shares in its portfolio. Cubist Systematic Strategies Ltd Llc stated it has 1,891 shares or 0% of all its holdings. Quantbot Ltd Partnership holds 0.01% or 12,116 shares. Maplelane Capital Ltd Llc owns 1.43 million shares. Dimensional Fund Lp has invested 0% in Caesars Entertainment Corporation (NASDAQ:CZR). Massachusetts Financial Services Ma reported 67,931 shares or 0% of all its holdings. Geode Cap Mngmt Limited Liability has invested 0% of its portfolio in Caesars Entertainment Corporation (NASDAQ:CZR). 207,456 were reported by First Trust Advsrs Lp. Barclays Public Ltd Co holds 0.02% or 1.42 million shares. Rhumbline Advisers holds 0% of its portfolio in Caesars Entertainment Corporation (NASDAQ:CZR) for 70,215 shares. 309,392 are held by Parametric Port Associate Limited Liability Corp.

The stock of Caesars Entertainment Corporation (CZR) formed an ascending triangle with $11.80 target or 6.00 % below today’s $12.55 share price. The 5 months triangle pattern indicates high risk for the $8.84 billion company. If the $11.80 price target is reached, the company will be worth $530.22M less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

The stock increased 0.40% or $0.05 during the last trading session, reaching $12.55. About 7.88M shares traded. Caesars Entertainment Corporation (NASDAQ:CZR) has risen 62.44% since December 8, 2016 and is uptrending. It has outperformed by 45.74% the S&P500.

Analysts await Caesars Entertainment Corporation (NASDAQ:CZR) to report earnings on February, 13. They expect $14.85 earnings per share, up 482.73 % or $18.73 from last year’s $-3.88 per share. CZR’s profit will be $10.46 billion for 0.21 P/E if the $14.85 EPS becomes a reality. After $-1.19 actual earnings per share reported by Caesars Entertainment Corporation for the previous quarter, Wall Street now forecasts -1,347.90 % EPS growth.

Caesars Entertainment Corporation (NASDAQ:CZR) Ratings Coverage

Among 5 analysts covering Caesars Entertainment (NASDAQ:CZR), 2 have Buy rating, 1 Sell and 2 Hold. Therefore 40% are positive. Caesars Entertainment had 7 analyst reports since December 14, 2015 according to SRatingsIntel. SunTrust maintained it with “Buy” rating and $14.0 target in Tuesday, October 24 report. The stock has “Underweight” rating by Barclays Capital on Monday, December 14. As per Wednesday, May 31, the company rating was initiated by Oppenheimer. Oppenheimer maintained it with “Buy” rating and $1500 target in Tuesday, June 6 report. Nomura initiated the shares of CZR in report on Friday, October 6 with “Hold” rating.

More notable recent Caesars Entertainment Corporation (NASDAQ:CZR) news were published by: Prnewswire.com which released: “Caesars Entertainment Announces Extension of the Early Payment Deadline and …” on November 17, 2017, also Prnewswire.com with their article: “Morning Technical Insight on These Resorts & Casinos Stocks — Melco Resorts …” published on December 07, 2017, Prnewswire.com published: “Caesars Entertainment Corporation to Participate in the Barclays Gaming …” on December 06, 2017. More interesting news about Caesars Entertainment Corporation (NASDAQ:CZR) were released by: Prnewswire.com and their article: “Caesars Entertainment Corporation to Participate in the Bank of America …” published on November 29, 2017 as well as Prnewswire.com‘s news article titled: “Caesars Entertainment Announces Harrah’s Las Vegas Sale and Leaseback …” with publication date: November 29, 2017.

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