Could Gencor Industries, Inc. (GENC) Gain Strenght After Forming Wedge Down Pattern?

June 17, 2018 - By Stephen Andrade

The stock of Gencor Industries, Inc. (GENC) formed a down wedge with $14.44 target or 8.00 % below today’s $15.70 share price. The 8 months wedge indicates high risk for the $227.43 million company. If the $14.44 price target is reached, the company will be worth $18.19M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 0.32% or $0.05 during the last trading session, reaching $15.7. About 18,989 shares traded or 8.83% up from the average. Gencor Industries, Inc. (NASDAQ:GENC) has declined 0.63% since June 17, 2017 and is downtrending. It has underperformed by 13.20% the S&P500.

Gencor Industries, Inc., together with its subsidiaries, designs, makes, and sells heavy machinery used in the production of highway construction materials and environmental control equipment. The company has market cap of $227.43 million. The firm offers hot-mix asphalt plants to produce asphalt paving materials; related asphalt plant equipment, including hot mix storage silos, fabric filtration systems, cold feed bins, and other plant components; and a range of mobile batch plants. It has a 24.92 P/E ratio. It also provides combustion systems that transform solid, liquid, or gaseous fuels into usable energy, or burn multiple fuels in asphalt and aggregate drying industries; soil remediation machines; and combustion systems for rotary dryers, kilns, fume and liquid incinerators, and fuel heaters, as well as industrial incinerators.

Gencor Industries, Inc. (NASDAQ:GENC) Institutional Positions Chart

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.