Shineco, Inc. (TYHT) Formed a Bearish Double Bottom Pattern, Could Be One of The Worst Performers Going Forward

June 17, 2018 - By Stephen Andrade

The chart of Shineco, Inc. (TYHT) shows a double bottom with $1.91 target or 3.00 % below today’s $1.97 share price. The 6 months chart pattern indicates high risk for the $41.83 million company. It was reported on Jun, 17 by Finviz.com. If the $1.91 price target is reached, the company will be worth $1.25 million less. Double bottoms are rare but powerful chart patterns.

The stock decreased 2.48% or $0.05 during the last trading session, reaching $1.97. About 36,153 shares traded. Shineco, Inc. (NASDAQ:TYHT) has declined 58.69% since June 17, 2017 and is downtrending. It has underperformed by 71.26% the S&P500.

Shineco, Inc., through its subsidiaries, produces, distributes, and sells health and well-being focused plant products in China. The company has market cap of $41.83 million. It processes and distributes traditional Chinese herbal medicine products, as well as other pharmaceutical products directly to individual customers. It has a 3.53 P/E ratio. The firm also plants, processes, and distributes green and organic agricultural produce; and grows, cultivates, and sells yew trees that are used for the production of anti-cancer medication, as well as ornamental bonsai trees for purifying indoor air quality.

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