Is Selling Oconee Federal Financial Corp. (OFED) Here a Winning Strategy? The Stock Formed Ascending Triangle Chart Pattern

December 8, 2017 - By Marguerite Chambers

Investors sentiment increased to 19 in Q2 2017. Its up 18.50, from 0.5 in 2017Q1. It increased, as 1 investors sold Oconee Federal Financial Corp. shares while 0 reduced holdings. 17 funds opened positions while 2 raised stakes. 278,922 shares or 178.94% more from 99,995 shares in 2017Q1 were reported.
Panagora Asset Management holds 365 shares or 0% of its portfolio. Legal General Group Public Limited Company reported 411 shares or 0% of all its holdings. Arbiter Prns Mngmt Limited Com reported 43,399 shares. Tower Research Capital Limited Liability Corp (Trc) has invested 0% in Oconee Federal Financial Corp. (NASDAQ:OFED). Intl Grp Inc invested in 0% or 772 shares. New York State Common Retirement Fund accumulated 3,700 shares or 0% of the stock. Citigroup reported 638 shares stake. 22,902 were reported by Minerva Advsr Lc. Jpmorgan Chase holds 10 shares or 0% of its portfolio. Blackrock owns 48,188 shares for 0% of their portfolio. Deutsche Bancorp Ag has invested 0% in Oconee Federal Financial Corp. (NASDAQ:OFED). Barclays Pcl holds 0% in Oconee Federal Financial Corp. (NASDAQ:OFED) or 1 shares. Northern Trust reported 9,911 shares. Royal Bancshares Of Canada owns 4 shares. 1,099 are owned by Morgan Stanley.

The stock of Oconee Federal Financial Corp. (OFED) formed an ascending triangle with $27.10 target or 8.00 % below today’s $29.46 share price. The 6 months triangle pattern indicates high risk for the $166.94 million company. If the $27.10 price target is reached, the company will be worth $13.35M 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 decreased 0.20% or $0.06 during the last trading session, reaching $29.46. About 782 shares traded. Oconee Federal Financial Corp. (NASDAQ:OFED) has risen 41.16% since December 8, 2016 and is uptrending. It has outperformed by 24.46% the S&P500.

More important recent Oconee Federal Financial Corp. (NASDAQ:OFED) news were published by: Seekingalpha.com which released: “Oconee Federal Financial – Well Capitalized And Profitable Bank With A Dual …” on July 16, 2015, also Businesswire.com published article titled: “Oconee Federal Financial Corp. Announces Agreement to Acquire Stephens Federal …”, Marketwatch.com published: “Oconee Federal Financial Corp.” on February 11, 2011. More interesting news about Oconee Federal Financial Corp. (NASDAQ:OFED) was released by: Businesswire.com and their article: “Oconee Federal Financial Corp. Announces Appointment of New Chief Financial …” with publication date: March 30, 2017.

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