What Next for New Age Beverages Corporation (NBEV) After Forming Wedge Down Chart Pattern?

December 7, 2017 - By Winifred Garcia

The stock of New Age Beverages Corporation (NBEV) formed a down wedge with $2.01 target or 9.00 % below today’s $2.21 share price. The 6 months wedge indicates high risk for the $76.50M company. If the $2.01 price target is reached, the company will be worth $6.89M 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 1.84% or $0.04 during the last trading session, reaching $2.21. About 95,242 shares traded. New Age Beverages Corporation (NASDAQ:NBEV) has risen 1082.22% since December 8, 2016 and is uptrending. It has outperformed by 1065.52% the S&P500.

More notable recent New Age Beverages Corporation (NASDAQ:NBEV) news were published by: Seekingalpha.com which released: “Short attack launches on New Age Beverages” on June 06, 2017, also Vendingmarketwatch.com with their article: “New Age Beverages Corporation Signs Agreement With Unified Strategies Group” published on November 02, 2017, Seekingalpha.com published: “New Age Beverages’ (NBEV) Brent Willis on Q2 2017 Results – Earnings Call …” on August 18, 2017. More interesting news about New Age Beverages Corporation (NASDAQ:NBEV) were released by: Seekingalpha.com and their article: “New Age Beverages Corporation: A ‘Roll-Up Strategy’ That Is Unlikely To Work” published on June 27, 2017 as well as Seekingalpha.com‘s news article titled: “New Age Beverages’ (NBEV) CEO Brent Willis on Q3 2017 Results – Earnings Call …” with publication date: November 14, 2017.

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