Could Oconee Federal Financial Corp. (OFED) See a Reversal After Having Formed Several Months Bearish Ascending Triangle

December 8, 2017 - By Vivian Park

Investors sentiment increased to 19 in 2017 Q2. Its up 18.50, from 0.5 in 2017Q1. It is positive, as 1 investors sold Oconee Federal Financial Corp. shares while 0 reduced holdings. 17 funds opened positions while 2 raised stakes. 278,922 shares or 178.94% more from 99,995 shares in 2017Q1 were reported.
Citigroup Incorporated reported 0% of its portfolio in Oconee Federal Financial Corp. (NASDAQ:OFED). Tiaa Cref Mgmt Lc reported 0% stake. Ameritas Prtnrs Incorporated has invested 0% in Oconee Federal Financial Corp. (NASDAQ:OFED). Panagora Asset, Massachusetts-based fund reported 365 shares. New York State Common Retirement Fund reported 3,700 shares stake. Legal & General Gru Public Ltd Com invested in 0% or 411 shares. Bnp Paribas Arbitrage Sa holds 0% of its portfolio in Oconee Federal Financial Corp. (NASDAQ:OFED) for 131 shares. Strs Ohio reported 0% in Oconee Federal Financial Corp. (NASDAQ:OFED). Jpmorgan Chase & accumulated 10 shares or 0% of the stock. Blackrock reported 48,188 shares. Northern Tru accumulated 9,911 shares or 0% of the stock. Barclays Public Limited Com holds 0% or 1 shares in its portfolio. Tower Rech Capital Limited Liability (Trc) accumulated 402 shares or 0% of the stock. American Inc accumulated 0% or 772 shares. California State Teachers Retirement System reported 2,200 shares.

The stock of Oconee Federal Financial Corp. (OFED) formed an ascending triangle with $27.10 target or 8.00 % below today’s $29.46 share price. The 6 months triangle pattern indicates high risk for the $166.94 million company. If the $27.10 price target is reached, the company will be worth $13.35M 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.

The stock decreased 0.20% or $0.06 during the last trading session, reaching $29.46. About 782 shares traded. Oconee Federal Financial Corp. (NASDAQ:OFED) has risen 41.16% since December 8, 2016 and is uptrending. It has outperformed by 24.46% the S&P500.

More important recent Oconee Federal Financial Corp. (NASDAQ:OFED) news were published by: Seekingalpha.com which released: “Oconee Federal Financial – Well Capitalized And Profitable Bank With A Dual …” on July 16, 2015, also Businesswire.com published article titled: “Oconee Federal Financial Corp. Announces Appointment of New Chief Financial …”, Marketwatch.com published: “Oconee Federal Financial Corp.” on February 11, 2011. More interesting news about Oconee Federal Financial Corp. (NASDAQ:OFED) was released by: Businesswire.com and their article: “Oconee Federal Financial Corp. Announces Agreement to Acquire Stephens Federal …” with publication date: February 27, 2014.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.