Bearish Chart Formation for China Jo-Jo Drugstores Inc (CJJD) After Forming Wedge Down Pattern

November 15, 2017 - By Adrian Mccoy

Investors sentiment is 0 in Q2 2017. Its the same as in 2017Q1. It is the same, as 1 investors sold China Jo-Jo Drugstores Inc shares while 1 reduced holdings. only 0 funds opened positions while 0 raised stakes. 163,400 shares or 21.46% less from 208,045 shares in 2017Q1 were reported.
California Employees Retirement Sys owns 29,300 shares or 0% of their US portfolio. Renaissance Limited Liability Com has invested 0% in China Jo-Jo Drugstores Inc (NASDAQ:CJJD). Sabal Trust stated it has 0% of its portfolio in China Jo-Jo Drugstores Inc (NASDAQ:CJJD).

The stock of China Jo-Jo Drugstores Inc (CJJD) formed a down wedge with $1.46 target or 3.00 % below today’s $1.51 share price. The 5 months wedge indicates high risk for the $38.07 million company. If the $1.46 price target is reached, the company will be worth $1.14M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

It is 0.00% or $0 reaching $1.51 per share. It is down 8.75% since November 15, 2016 and is uptrending. It has underperformed by 7.95% the S&P500.

More notable recent China Jo-Jo Drugstores Inc (NASDAQ:CJJD) news were published by: Prnewswire.com which released: “China Jo-Jo Drugstores Becomes the First Hangzhou Pharmacy to Be Launched on …” on June 22, 2015, also Thestreet.com with their article: “China Jo-Jo Drugstores (CJJD) Stock Jumps After Announcing Fiscal 2015 Sales Data” published on June 11, 2015, Prnewswire.com published: “China Jo-Jo Drugstores Launches Ambitious Retail Pharmacy Expansion Plan to …” on August 08, 2016. More interesting news about China Jo-Jo Drugstores Inc (NASDAQ:CJJD) were released by: Thestreet.com and their article: “China Jo-Jo Drugstores (CJJD) Stock Leaps Today on Expected Legalization of …” published on December 30, 2014 as well as Prnewswire.com‘s news article titled: “China Jo-Jo Drugstore Forms Joint Venture with Leading Chinese Pharmacy …” with publication date: March 17, 2015.

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