What’s Ahead for Digital Ally, Inc. (DGLY) After Forming Ascending Triangle Chart Pattern?

June 17, 2018 - By Clifton Ray

Digital Ally, Inc. (NASDAQ:DGLY) Logo

Investors sentiment decreased to 0.5 in 2018 Q1. Its down 0.25, from 0.75 in 2017Q4. It dived, as 1 investors sold Digital Ally, Inc. shares while 1 reduced holdings. 1 funds opened positions while 0 raised stakes. 240,208 shares or 4.34% less from 251,107 shares in 2017Q4 were reported.
Valley Natl Advisers accumulated 0% or 42 shares. The Massachusetts-based Geode Cap Management Lc has invested 0% in Digital Ally, Inc. (NASDAQ:DGLY). Royal Bank & Trust Of Canada owns 2 shares for 0% of their portfolio. Blackrock has invested 0% in Digital Ally, Inc. (NASDAQ:DGLY). Vanguard Group Inc accumulated 162,538 shares. Natl Bank Of America De holds 0% or 550 shares. Morgan Stanley reported 200 shares.

The stock of Digital Ally, Inc. (DGLY) formed an ascending triangle with $2.52 target or 3.00 % below today’s $2.60 share price. The 6 months triangle pattern indicates high risk for the $18.54 million company. If the $2.52 price target is reached, the company will be worth $556,320 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 increased 1.96% or $0.05 during the last trading session, reaching $2.6. About 17,315 shares traded. Digital Ally, Inc. (NASDAQ:DGLY) has declined 30.67% since June 17, 2017 and is downtrending. It has underperformed by 43.24% the S&P500.

More notable recent Digital Ally, Inc. (NASDAQ:DGLY) news were published by: Nasdaq.com which released: “DIGITAL ALLY WINS ANOTHER SIGNIFICANT VICTORY AT PATENT OFFICE WITH DENIAL OF AXON’S REQUEST …” on June 04, 2018, also Benzinga.com with their article: “35 Stocks Moving In Monday’s Mid-Day Session” published on June 04, 2018, Bizjournals.com published: “Digital Ally wins another patent challenge against bigger competitor” on June 05, 2018. More interesting news about Digital Ally, Inc. (NASDAQ:DGLY) were released by: Benzinga.com and their article: “28 Stocks Moving In Monday’s Pre-Market Session” published on June 04, 2018 as well as Streetinsider.com‘s news article titled: “Digital Ally (DGLY) Files to Offer up to 3.67M Shares” with publication date: May 23, 2018.

Digital Ally, Inc. produces digital video imaging and storage products for use in law enforcement, security, and commercial applications in the United States and internationally. The company has market cap of $18.54 million. The Company’s digital audio/video recording, storage, and other products include an in-car, digital audio/video system that is integrated into a rear view mirror for law enforcement vehicles and commercial fleets; VuLink, a system that provides law enforcement clients with audio/video surveillance from various vantage points; hands-free automatic activated body-worn cameras and in-car video systems; and a weather-resistant mobile digital video recording system for use in motorcycles, ATV's, and boats. It currently has negative earnings. The company's digital audio/video recording, storage, and other products also comprise a miniature body-worn digital video system; Laser Ally, a hand-held laser speed detection device; VuVault.net, a law enforcement cloud storage solution; and FleetVU Manager, a Web software for commercial fleet tracking and monitoring.

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