What’s REX American Resources Corporation (REX) Upside After Forming Descending Triangle?

December 8, 2017 - By Marguerite Chambers

Investors sentiment decreased to 1.11 in Q2 2017. Its down 0.23, from 1.34 in 2017Q1. It is negative, as 15 investors sold REX American Resources Corporation shares while 40 reduced holdings. 21 funds opened positions while 40 raised stakes. 5.74 million shares or 0.65% less from 5.78 million shares in 2017Q1 were reported.
Old Mutual Invsts (Uk) Limited stated it has 11,931 shares or 0.01% of all its holdings. Morgan Stanley reported 38,667 shares. Invesco Limited owns 60,561 shares for 0% of their portfolio. Art Advisors Ltd Liability has invested 0.06% in REX American Resources Corporation (NYSE:REX). Ameritas Invest reported 441 shares. Citigroup holds 0% of its portfolio in REX American Resources Corporation (NYSE:REX) for 63 shares. Victory Mgmt reported 2,368 shares. Thrivent Financial For Lutherans invested in 0% or 3,450 shares. Paloma Prtnrs Mgmt holds 0% of its portfolio in REX American Resources Corporation (NYSE:REX) for 2,683 shares. Granite Investment Prns Limited Liability Co holds 0.06% or 8,554 shares in its portfolio. Vanguard Grp Inc Incorporated has invested 0% in REX American Resources Corporation (NYSE:REX). Price T Rowe Associate Inc Md holds 0% or 120,867 shares. James Inv Rech accumulated 0.04% or 14,840 shares. 11,007 were reported by Shell Asset Mgmt Com. Zurcher Kantonalbank (Zurich Cantonalbank) holds 186 shares.

The stock of REX American Resources Corporation (REX) formed a descending triangle with $90.96 target or 5.00 % above today’s $86.63 share price. The 5 months triangle pattern indicates low risk for the $568.88M company. If the $90.96 price target is reached, the company will be worth $28.44M more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock increased 1.17% or $1 during the last trading session, reaching $86.63. About 45,085 shares traded or 7.84% up from the average. REX American Resources Corporation (NYSE:REX) has risen 85.58% since December 8, 2016 and is uptrending. It has outperformed by 68.88% the S&P500.

REX American Resources Corporation (NYSE:REX) Ratings Coverage

Among 2 analysts covering REX American Resources (NYSE:REX), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. REX American Resources had 2 analyst reports since December 3, 2015 according to SRatingsIntel. On Thursday, September 15 the stock rating was initiated by Feltl & Co with “Buy”. The rating was maintained by Singular Research with “Buy” on Thursday, December 3.

More notable recent REX American Resources Corporation (NYSE:REX) news were published by: Seekingalpha.com which released: “REX American Resources Corp’s (REX) CEO Zafar Rizvi on Q2 2017 Results …” on August 30, 2017, also Seekingalpha.com with their article: “REX American Resources’ (REX) CEO Zafar Rizvi on Q3 2017 Results – Earnings …” published on November 29, 2017, Businesswire.com published: “REX American Resources to Report Fiscal 2017 Q3 Results and Host Conference …” on November 21, 2017. More interesting news about REX American Resources Corporation (NYSE:REX) were released by: Bizjournals.com and their article: “Dayton ethanol company plans up to $30M in plant expansions” published on April 03, 2017 as well as Seekingalpha.com‘s news article titled: “REX American Resources’ (REX) CEO Zafar Rizvi on Q4 2016 Results – Earnings …” with publication date: March 24, 2017.

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