Could argenx SE (ARGX) Recover After Forming a Multiple Top Chart Pattern?

March 20, 2018 - By Vivian Currie

The stock of argenx SE (ARGX) shows a multiple tops pattern with $83.96 target or 5.00 % above today’s $79.96 share price. The 8 months chart pattern indicates low risk for the $2.54B company. It was reported on Mar, 20 by If the $83.96 price target is reached, the company will be worth $127.10M more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock decreased 1.20% or $0.97 during the last trading session, reaching $79.96. About 83,531 shares traded. argenx SE (NASDAQ:ARGX) has 0.00% since March 20, 2017 and is . It has underperformed by 16.70% the S&P500.

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