Does This Provide a Reason to Buy Daily Journal Corporation (DJCO)? The Stock Has Formed Wedge Up

December 7, 2017 - By Peter Erickson

Investors sentiment decreased to 1 in 2017 Q2. Its down 0.27, from 1.27 in 2017Q1. It worsened, as 2 investors sold Daily Journal Corporation shares while 14 reduced holdings. 3 funds opened positions while 13 raised stakes. 515,546 shares or 1.96% more from 505,626 shares in 2017Q1 were reported.
Ashford holds 0.55% or 14,876 shares in its portfolio. Rwwm holds 18.39% in Daily Journal Corporation (NASDAQ:DJCO) or 255,987 shares. Renaissance Techs Ltd Limited Liability Company invested in 0% or 1,600 shares. Caprock Group Inc accumulated 0.25% or 5,586 shares. Blackrock invested 0% of its portfolio in Daily Journal Corporation (NASDAQ:DJCO). Shayne And Ltd Llc holds 0.63% or 3,904 shares. National Bank & Trust Of New York Mellon Corp, a New York-based fund reported 4,058 shares. Manufacturers Life Insurance The invested 0% of its portfolio in Daily Journal Corporation (NASDAQ:DJCO). Covington Mgmt has invested 0.1% in Daily Journal Corporation (NASDAQ:DJCO). Panagora Asset Mgmt holds 91 shares or 0% of its portfolio. Neuberger Berman Group Limited Liability Company stated it has 0% of its portfolio in Daily Journal Corporation (NASDAQ:DJCO). First Manhattan holds 1 shares or 0% of its portfolio. Northern holds 0% of its portfolio in Daily Journal Corporation (NASDAQ:DJCO) for 12,562 shares. Jpmorgan Chase And holds 62 shares. American Interest Group Inc Incorporated owns 689 shares.

The stock of Daily Journal Corporation (DJCO) formed an up wedge with $254.80 target or 4.00 % above today’s $245.00 share price. The 6 months wedge indicates low risk for the $338.28M company. If the $254.80 price target is reached, the company will be worth $13.53M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 3.52% or $8.32 during the last trading session, reaching $245. About 3,033 shares traded or 50.97% up from the average. Daily Journal Corporation (NASDAQ:DJCO) has risen 7.41% since December 8, 2016 and is uptrending. It has underperformed by 9.29% the S&P500.

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