What Next for Tekla World Healthcare Fund (THW) After Forming Bearish Multiple Bottom Pattern?

February 15, 2018 - By simple simple

The stock of Tekla World Healthcare Fund (THW) shows a multiple bottoms pattern with $12.29 target or 9.00 % below today’s $13.50 share price. The 9 months chart pattern indicates high risk for the $ company. It was reported on Feb, 15 by Finviz.com. If the $12.29 price target is reached, the company will be worth $ 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 0.30% or $0.04 during the last trading session, reaching $13.5. About 46,950 shares traded. Tekla World Healthcare Fund (NYSE:THW) has 0.00% since February 15, 2017 and is . It has underperformed by 16.70% the S&P500.

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