Could Support.com, Inc. (SPRT) Go Up? The Stock Formed Bullish Multiple Top Chart Pattern

May 22, 2018 - By Darrin Black

Support.com, Inc. (NASDAQ:SPRT) Logo

The stock of Support.com, Inc. (SPRT) shows a multiple tops pattern with $2.99 target or 5.00 % above today’s $2.85 share price. The 5 months chart pattern indicates low risk for the $53.40 million company. It was reported on May, 22 by Finviz.com. If the $2.99 price target is reached, the company will be worth $2.67 million 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 0.70% or $0.02 during the last trading session, reaching $2.85. About 13,723 shares traded. Support.com, Inc. (NASDAQ:SPRT) has risen 28.84% since May 22, 2017 and is uptrending. It has outperformed by 17.29% the S&P500.

Another recent and important Support.com, Inc. (NASDAQ:SPRT) news was published by Seekingalpha.com which published an article titled: “SA Interview: Special Situation Investing With Antao” on May 20, 2018.

Support.com, Inc. provides cloud-based software and services primarily in North America. The company has market cap of $53.40 million. The firm offers turnkey, outsourced support services for service providers, retailers, Internet of Things solution providers, and technology companies. It currently has negative earnings. The Company’s technology support services programs include computer and mobile device set-up, security and support, virus and malware removal, wireless network set-up, and home security and automation system support for both the consumer and small and medium business markets.

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