After Forming Bearish Ascending Triangle Chart Pattern, Is Charles & Colvard, Ltd. (CTHR)’s Near-Term Analysis Negative?

May 18, 2018 - By Adrian Erickson

Charles & Colvard, Ltd. (NASDAQ:CTHR) Logo

Investors sentiment decreased to 0.73 in Q4 2017. Its down 0.07, from 0.8 in 2017Q3. It worsened, as 5 investors sold Charles & Colvard, Ltd. shares while 6 reduced holdings. 6 funds opened positions while 2 raised stakes. 2.92 million shares or 14.61% less from 3.42 million shares in 2017Q3 were reported.
Vanguard Gp has invested 0% in Charles & Colvard, Ltd. (NASDAQ:CTHR). Goldman Sachs Gp reported 0% of its portfolio in Charles & Colvard, Ltd. (NASDAQ:CTHR). Us Bancshares De stated it has 0% in Charles & Colvard, Ltd. (NASDAQ:CTHR). 255,051 are held by Renaissance Techs Ltd Com. The Georgia-based Buckhead Capital Mgmt Limited Liability Company has invested 0% in Charles & Colvard, Ltd. (NASDAQ:CTHR). The New York-based Natl Bank Of New York Mellon has invested 0% in Charles & Colvard, Ltd. (NASDAQ:CTHR). Johnson Inv Counsel Incorporated invested in 0% or 25,000 shares. California Public Employees Retirement, California-based fund reported 36,473 shares. Geode Management Limited Liability Corporation reported 49,187 shares. Wells Fargo And Mn stated it has 0% in Charles & Colvard, Ltd. (NASDAQ:CTHR). Moreover, Thrivent Fincl For Lutherans has 0% invested in Charles & Colvard, Ltd. (NASDAQ:CTHR). Regions Financial has invested 0.01% in Charles & Colvard, Ltd. (NASDAQ:CTHR). Royal Bancorporation Of Canada has 0% invested in Charles & Colvard, Ltd. (NASDAQ:CTHR) for 21 shares. Northern Tru accumulated 31,116 shares. Deutsche Bank & Trust Ag reported 81,302 shares or 0% of all its holdings.

Since December 15, 2017, it had 2 insider buys, and 0 selling transactions for $34,731 activity. O’CONNELL DON also bought $6,381 worth of Charles & Colvard, Ltd. (NASDAQ:CTHR) on Friday, December 15.

The stock of Charles & Colvard, Ltd. (CTHR) formed an ascending triangle with $1.15 target or 8.00 % below today’s $1.25 share price. The 9 months triangle pattern indicates high risk for the $26.97 million company. If the $1.15 price target is reached, the company will be worth $2.16M 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 increased 1.63% or $0.02 during the last trading session, reaching $1.25. About 34,087 shares traded. Charles & Colvard, Ltd. (NASDAQ:CTHR) has risen 34.65% since May 18, 2017 and is uptrending. It has outperformed by 23.10% the S&P500.

More news for Charles & Colvard, Ltd. (NASDAQ:CTHR) were recently published by: Globenewswire.com, which released: “Charles & Colvard Reports First Quarter 2018 Financial Results” on May 08, 2018. Seekingalpha.com‘s article titled: “Charles & Colvard’s (CTHR) CEO Suzanne Miglucci on Q1 2018 Results – Earnings Call Transcript” and published on May 09, 2018 is yet another important article.

Charles & Colvard, Ltd. manufactures, markets, and distributes moissanite jewels and finished jewelry featuring moissanite worldwide. The company has market cap of $26.97 million. The firm offers near-colorless moissanite jewels cut in various shapes, including round, square brilliant, princess, cushion, radiant, pear, marquise, heart, oval, and asscher in sizes ranging from approximately 1.3 to 12 millimeters. It currently has negative earnings. It also provides finished jewelry featuring moissanite, such as stud earrings, solitaire and three-stone rings, pendants, and bracelets.

Charles & Colvard, Ltd. (NASDAQ:CTHR) Institutional Positions Chart

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