Bearish Chart Formation for FireEye, Inc. (FEYE) After Forming Bearish Multiple Bottom Chart Pattern

February 15, 2018 - By Ellis Scott

Investors sentiment increased to 1.24 in Q3 2017. Its up 0.01, from 1.23 in 2017Q2. It increased, as 29 investors sold FireEye, Inc. shares while 71 reduced holdings. 43 funds opened positions while 81 raised stakes. 119.98 million shares or 3.47% more from 115.96 million shares in 2017Q2 were reported.
16,756 were reported by Nomura Inc. Ameriprise Finance invested in 168,141 shares or 0% of the stock. Oak Associate Limited Oh holds 0.03% or 24,825 shares. Cetera Advisor Lc reported 0.01% in FireEye, Inc. (NASDAQ:FEYE). Moreover, Millennium Management Llc has 0.02% invested in FireEye, Inc. (NASDAQ:FEYE). Capwealth Llc owns 1.28% invested in FireEye, Inc. (NASDAQ:FEYE) for 398,610 shares. Alliancebernstein Ltd Partnership has 231,513 shares. New York-based Trellus Management Llc has invested 2.41% in FireEye, Inc. (NASDAQ:FEYE). Focused Wealth Mngmt accumulated 450 shares. Prudential Fincl holds 0% in FireEye, Inc. (NASDAQ:FEYE) or 10,040 shares. D Scott Neal holds 375 shares. Goldman Sachs Gru reported 0.03% in FireEye, Inc. (NASDAQ:FEYE). Parametric Portfolio Assocs invested in 0.01% or 724,232 shares. Natl Bank Of Mellon Corporation owns 0% invested in FireEye, Inc. (NASDAQ:FEYE) for 745,667 shares. Creative Planning holds 0.02% or 249,393 shares in its portfolio.

Since September 18, 2017, it had 0 insider purchases, and 3 sales for $2.20 million activity. Reese Travis M. sold $1.55M worth of stock or 88,445 shares.

The stock of FireEye, Inc. (FEYE) shows a multiple bottoms pattern with $16.17 target or 3.00 % below today’s $16.67 share price. The 8 months chart pattern indicates high risk for the $3.08 billion company. It was reported on Feb, 15 by Finviz.com. If the $16.17 price target is reached, the company will be worth $92.31M less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock increased 0.54% or $0.09 during the last trading session, reaching $16.67. About 2.76M shares traded. FireEye, Inc. (NASDAQ:FEYE) has risen 11.41% since February 15, 2017 and is uptrending. It has underperformed by 5.29% the S&P500.

FireEye, Inc. (NASDAQ:FEYE) Ratings Coverage

Among 34 analysts covering Fireeye Inc (NASDAQ:FEYE), 15 have Buy rating, 0 Sell and 19 Hold. Therefore 44% are positive. Fireeye Inc has $65 highest and $11 lowest target. $22.48’s average target is 34.85% above currents $16.67 stock price. Fireeye Inc had 115 analyst reports since July 24, 2015 according to SRatingsIntel. Evercore maintained FireEye, Inc. (NASDAQ:FEYE) on Tuesday, August 1 with “Buy” rating. DA Davidson initiated the stock with “Buy” rating in Friday, October 16 report. As per Monday, January 4, the company rating was initiated by Summit Research. The rating was maintained by Barclays Capital on Friday, February 9 with “Equal-Weight”. On Friday, February 12 the stock rating was maintained by Topeka Capital Markets with “Buy”. Piper Jaffray upgraded it to “Overweight” rating and $24 target in Wednesday, March 9 report. The firm earned “” rating on Friday, July 24 by OTR Global. The stock of FireEye, Inc. (NASDAQ:FEYE) earned “Equal-Weight” rating by Morgan Stanley on Thursday, November 5. The company was downgraded on Monday, October 24 by First Analysis. As per Friday, January 13, the company rating was initiated by Northland Capital.

More notable recent FireEye, Inc. (NASDAQ:FEYE) news were published by: Investorplace.com which released: “Despite Growth, FireEye Inc Stock Is a No-Touch at Current Levels” on February 13, 2018, also Seekingalpha.com with their article: “FireEye: A Potential Buyout Target In 2018” published on January 23, 2018, Seekingalpha.com published: “FireEye: This Turnaround Story Gains Momentum” on February 12, 2018. More interesting news about FireEye, Inc. (NASDAQ:FEYE) were released by: Zacks.com and their article: “FireEye Beats Q4 Earnings & Revenue Estimates” published on February 08, 2018 as well as Investorplace.com‘s news article titled: “Why a FireEye Deal Makes Some Sense for Microsoft Corporation” with publication date: February 12, 2018.

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