Does Weyco Group, Inc. (WEYS) Have Any Gas After Forming This Ascending Triangle?

November 21, 2017 - By Hazel Jackson

Investors sentiment increased to 1.67 in 2017 Q2. Its up 0.15, from 1.52 in 2017Q1. It increased, as 3 investors sold Weyco Group, Inc. shares while 15 reduced holdings. 13 funds opened positions while 17 raised stakes. 3.30 million shares or 1.27% more from 3.26 million shares in 2017Q1 were reported.
Prelude Capital Limited Liability Co has 1,693 shares. Tower Rech Ltd Liability (Trc) accumulated 580 shares. Geode Cap Mgmt Limited Liability stated it has 0% in Weyco Group, Inc. (NASDAQ:WEYS). Blackrock owns 431,555 shares or 0% of their US portfolio. Manufacturers Life The owns 5,112 shares. Wells Fargo & Mn has 0% invested in Weyco Group, Inc. (NASDAQ:WEYS). 756 were reported by Bnp Paribas Arbitrage Sa. Texas-based Bridgeway Mgmt has invested 0.01% in Weyco Group, Inc. (NASDAQ:WEYS). Morgan Stanley has 7,584 shares. Salem Counselors Inc invested 0% of its portfolio in Weyco Group, Inc. (NASDAQ:WEYS). 9,705 are owned by Sg Americas Securities Lc. Schwab Charles Management reported 19,548 shares or 0% of all its holdings. Perritt Cap Mgmt Inc reported 90,360 shares. 216,002 were reported by Vanguard Gp. Bank & Trust Of America De holds 0% of its portfolio in Weyco Group, Inc. (NASDAQ:WEYS) for 141,548 shares.

The stock of Weyco Group, Inc. (WEYS) formed an ascending triangle with $26.01 target or 9.00 % below today’s $28.58 share price. The 9 months triangle pattern indicates high risk for the $291.31M company. If the $26.01 price target is reached, the company will be worth $26.22 million 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.

About 1,602 shares traded. Weyco Group, Inc. (NASDAQ:WEYS) has risen 1.97% since November 21, 2016 and is uptrending. It has underperformed by 14.73% the S&P500.

More notable recent Weyco Group, Inc. (NASDAQ:WEYS) news were published by: Nasdaq.com which released: “Weyco Group, Inc. (WEYS) Ex-Dividend Date Scheduled for August 28, 2017” on August 25, 2017, also Jsonline.com with their article: “Fourth-quarter net income rises for Weyco Group” published on March 09, 2017, Seekingalpha.com published: “Weyco Group: A Pricy Stock With Poor Business Fundamentals” on January 10, 2017. More interesting news about Weyco Group, Inc. (NASDAQ:WEYS) were released by: Seekingalpha.com and their article: “Why I Won’t Walk With Weyco” published on January 05, 2016 as well as Biztimes.com‘s news article titled: “Weyco Group earnings up despite sales decline” with publication date: October 30, 2017.

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