Is BIOLASE, Inc. (BIOL) a Sell? The Stock Formed Bearish Wedge Down Chart Pattern

April 26, 2018 - By Adrian Mccoy

BIOLASE, Inc. (NASDAQ:BIOL) Logo

Investors sentiment increased to 1.31 in 2017 Q4. Its up 0.52, from 0.79 in 2017Q3. It is positive, as 7 investors sold BIOLASE, Inc. shares while 6 reduced holdings. 6 funds opened positions while 11 raised stakes. 36.99 million shares or 25.59% more from 29.45 million shares in 2017Q3 were reported.
Goldman Sachs Grp Inc owns 0% invested in BIOLASE, Inc. (NASDAQ:BIOL) for 24,338 shares. Wells Fargo And Mn has invested 0% of its portfolio in BIOLASE, Inc. (NASDAQ:BIOL). Oracle Investment Management invested 2.61% of its portfolio in BIOLASE, Inc. (NASDAQ:BIOL). Vanguard Grp has 1.30M shares for 0% of their portfolio. 134,601 are owned by Gamco Inc Et Al. Commercial Bank Of America De reported 0% stake. Virtu stated it has 15,730 shares or 0% of all its holdings. Morgan Stanley stated it has 0% in BIOLASE, Inc. (NASDAQ:BIOL). Geode Cap Management Limited Liability Company owns 206,201 shares or 0% of their US portfolio. Birchview Capital L P accumulated 1.29M shares. Northern Corporation reported 113,675 shares. Gabelli Funds Ltd stated it has 0% of its portfolio in BIOLASE, Inc. (NASDAQ:BIOL). Royal National Bank Of Canada accumulated 1,138 shares or 0% of the stock. Teton Advsrs reported 459,606 shares or 0.02% of all its holdings. Susquehanna Intll Gru Llp has invested 0% of its portfolio in BIOLASE, Inc. (NASDAQ:BIOL).

The stock of BIOLASE, Inc. (BIOL) formed a down wedge with $0.34 target or 5.00 % below today’s $0.36 share price. The 6 months wedge indicates high risk for the $36.81 million company. If the $0.34 price target is reached, the company will be worth $1.84M 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 decreased 3.07% or $0.0114 during the last trading session, reaching $0.3596. About 154,586 shares traded or 9.30% up from the average. BIOLASE, Inc. (NASDAQ:BIOL) has declined 67.19% since April 26, 2017 and is downtrending. It has underperformed by 78.74% the S&P500.

BIOLASE, Inc. (NASDAQ:BIOL) Institutional Positions Chart

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