ESSA Bancorp, Inc. (ESSA) Stock Faces Lower Risks Forward After Forming Wedge Up

December 7, 2017 - By Hazel Jackson

Investors sentiment increased to 1.29 in Q2 2017. Its up 0.11, from 1.18 in 2017Q1. It improved, as 2 investors sold ESSA Bancorp, Inc. shares while 15 reduced holdings. 3 funds opened positions while 19 raised stakes. 4.58 million shares or 1.02% more from 4.53 million shares in 2017Q1 were reported.
Ameritas Partners has invested 0% of its portfolio in ESSA Bancorp, Inc. (NASDAQ:ESSA). Vanguard Grp reported 470,521 shares stake. Bessemer Gru holds 12,600 shares or 0% of its portfolio. Moreover, Tower Capital Lc (Trc) has 0% invested in ESSA Bancorp, Inc. (NASDAQ:ESSA) for 1,237 shares. Bridgeway Cap Mgmt Incorporated stated it has 0.02% in ESSA Bancorp, Inc. (NASDAQ:ESSA). Northern Tru has 123,063 shares for 0% of their portfolio. State Bank Of Montreal Can owns 79 shares. Germany-based Deutsche Bankshares Ag has invested 0% in ESSA Bancorp, Inc. (NASDAQ:ESSA). Gendell Jeffrey L, a Connecticut-based fund reported 233,750 shares. Beese Fulmer Management Inc owns 15,397 shares or 0.05% of their US portfolio. Manufacturers Life Ins The, Ontario – Canada-based fund reported 10,901 shares. Banc Funds Ltd Company accumulated 138,218 shares. Dimensional Fund Advisors L P owns 555,529 shares. California Pub Employees Retirement Sys holds 26,682 shares. Jpmorgan Chase Co stated it has 2,366 shares or 0% of all its holdings.

The stock of ESSA Bancorp, Inc. (ESSA) formed an up wedge with $16.66 target or 5.00 % above today’s $15.87 share price. The 9 months wedge indicates low risk for the $160.40 million company. If the $16.66 price target is reached, the company will be worth $8.02 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 0.06% or $0.01 during the last trading session, reaching $15.87. About 4,402 shares traded. ESSA Bancorp, Inc. (NASDAQ:ESSA) has risen 7.02% since December 8, 2016 and is uptrending. It has underperformed by 9.68% the S&P500.

More news for ESSA Bancorp, Inc. (NASDAQ:ESSA) were recently published by: Globenewswire.com, which released: “ESSA Bancorp, Inc. (Nasdaq: ESSA) to Ring The Nasdaq Stock Market Closing Bell” on November 15, 2016. Delcotimes.com‘s article titled: “Upper Darby’s Eagle National Bank sold to ESSA Bancorp” and published on August 01, 2015 is yet another important article.

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