Is Tantech Holdings Ltd (TANH) a Buy? The Stock Formed Bullish Wedge Up Pattern

September 17, 2017 - By Darrin Black

The stock of Tantech Holdings Ltd (TANH) formed an up wedge with $4.40 target or 8.00 % above today’s $4.07 share price. The 6 months wedge indicates low risk for the $109.12 million company. If the $4.40 price target is reached, the company will be worth $8.73M 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 decreased 6.86% or $0.3 on September 15, reaching $4.07. About 2.47M shares traded or 319.14% up from the average. Tantech Holdings Ltd (NASDAQ:TANH) has declined 31.86% since September 17, 2016 and is downtrending. It has underperformed by 48.56% the S&P500.

More notable recent Tantech Holdings Ltd (NASDAQ:TANH) news were published by: Quotes.Wsj.com which released: “Tantech Holdings Ltd.” on March 24, 2015, also Prnewswire.com with their article: “Tantech Holdings Ltd. Announces Fiscal Year 2016 Financial Results” published on May 01, 2017, Marketwatch.com published: “4.07” on March 22, 2015. More interesting news about Tantech Holdings Ltd (NASDAQ:TANH) were released by: Prnewswire.com and their article: “Tantech Holdings Ltd. Announces Pricing of Initial Public Offering” published on March 24, 2015 as well as Prnewswire.com‘s news article titled: “Tantech Holdings to Produce EDLC Carbon Based Aluminum Batteries in …” with publication date: August 10, 2015.

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