What’s Ahead for Viavi Solutions Inc. (VIAV) After Forming Bearish Double Bottom Pattern?

February 7, 2018 - By Michael Collier

The chart of Viavi Solutions Inc. (VIAV) shows a double bottom with $9.69 target or 3.00 % below today’s $9.99 share price. The 9 months chart pattern indicates high risk for the $2.27 billion company. It was reported on Feb, 7 by Finviz.com. If the $9.69 price target is reached, the company will be worth $68.16M less. Double bottoms are rare but powerful chart patterns.

The stock increased 2.99% or $0.29 during the last trading session, reaching $9.99. About 4.93M shares traded or 103.79% up from the average. Viavi Solutions Inc. (NASDAQ:VIAV) has risen 77.76% since February 7, 2017 and is uptrending. It has outperformed by 61.06% the S&P500.

Viavi Solutions Inc. (NASDAQ:VIAV) Ratings Coverage

Among 7 analysts covering Viavi Solutions Inc (NASDAQ:VIAV), 6 have Buy rating, 0 Sell and 1 Hold. Therefore 86% are positive. Viavi Solutions Inc had 13 analyst reports since August 5, 2015 according to SRatingsIntel. The rating was maintained by Jefferies with “Hold” on Friday, August 14. JP Morgan upgraded Viavi Solutions Inc. (NASDAQ:VIAV) on Tuesday, October 11 to “Overweight” rating. M Partners maintained it with “Buy” rating and $8.50 target in Monday, June 6 report. The rating was downgraded by RBC Capital Markets to “Outperform” on Monday, August 10. UBS initiated it with “Buy” rating and $7.50 target in Thursday, August 13 report. As per Friday, August 14, the company rating was reinitiated by William Blair. The firm earned “Buy” rating on Wednesday, August 12 by Craig-Hallum. The company was upgraded on Wednesday, August 5 by B. Riley & Co. The firm earned “Hold” rating on Wednesday, August 12 by Craig Hallum.

More notable recent Viavi Solutions Inc. (NASDAQ:VIAV) news were published by: Benzinga.com which released: “Mid-Day Market Update: Dow Tumbles Over 400 Points; Viavi Solutions Shares …” on February 02, 2018, also Zacks.com with their article: “Viavi Solutions (VIAV) in Focus: Stock Moves 15.3% Higher February 05, 2018” published on February 05, 2018, Marketwatch.com published: “Viavi Solutions stock soars 17%; analysts praise acquisition” on February 02, 2018. More interesting news about Viavi Solutions Inc. (NASDAQ:VIAV) were released by: Streetinsider.com and their article: “Form 4 VIAVI SOLUTIONS INC. For: Jan 12 Filed by: BELLUZZO RICHARD” published on January 16, 2018 as well as Prnewswire.com‘s news article titled: “VIAVI to Acquire Cobham AvComm and Wireless Test and Measurement Businesses” with publication date: February 01, 2018.

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