What’s Propelling REX American Resources Corporation (REX) to Increase? The Stock Formed a Bullish Descending Triangle Pattern

December 8, 2017 - By Clifton Ray

Investors sentiment decreased to 1.11 in 2017 Q2. Its down 0.23, from 1.34 in 2017Q1. It turned negative, as 15 investors sold REX American Resources Corporation shares while 40 reduced holdings. 21 funds opened positions while 40 raised stakes. 5.74 million shares or 0.65% less from 5.78 million shares in 2017Q1 were reported.
Bowling Port Mgmt Lc holds 0.22% of its portfolio in REX American Resources Corporation (NYSE:REX) for 15,160 shares. Massachusetts-based Panagora Asset has invested 0% in REX American Resources Corporation (NYSE:REX). Thrivent Finance For Lutherans holds 0% or 3,450 shares in its portfolio. Manufacturers Life Ins The owns 4,537 shares for 0% of their portfolio. Sei Invests invested in 0% or 145 shares. Geode Capital Ltd Limited Liability Company holds 0% of its portfolio in REX American Resources Corporation (NYSE:REX) for 46,845 shares. 2,300 were reported by Louisiana State Employees Retirement Sys. Metropolitan Life Insur accumulated 0% or 4,221 shares. Envestnet Asset Mgmt holds 0% in REX American Resources Corporation (NYSE:REX) or 22 shares. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Inv Mgmt reported 16,200 shares stake. Swiss Comml Bank owns 0% invested in REX American Resources Corporation (NYSE:REX) for 8,900 shares. Numeric Invsts Limited Liability reported 105,320 shares. 1,106 were reported by State Of Alaska Department Of Revenue. First Trust Advisors Limited Partnership owns 4,559 shares or 0% of their US portfolio. Moreover, Bridgeway Cap Management Incorporated has 0.08% invested in REX American Resources Corporation (NYSE:REX).

The stock of REX American Resources Corporation (REX) formed a descending triangle with $90.96 target or 5.00 % above today’s $86.63 share price. The 5 months triangle pattern indicates low risk for the $568.88M company. If the $90.96 price target is reached, the company will be worth $28.44M more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock increased 1.17% or $1 during the last trading session, reaching $86.63. About 45,085 shares traded or 7.84% up from the average. REX American Resources Corporation (NYSE:REX) has risen 85.58% since December 8, 2016 and is uptrending. It has outperformed by 68.88% the S&P500.

REX American Resources Corporation (NYSE:REX) Ratings Coverage

Among 2 analysts covering REX American Resources (NYSE:REX), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. REX American Resources had 2 analyst reports since December 3, 2015 according to SRatingsIntel. The stock of REX American Resources Corporation (NYSE:REX) has “Buy” rating given on Thursday, December 3 by Singular Research. The rating was initiated by Feltl & Co with “Buy” on Thursday, September 15.

More notable recent REX American Resources Corporation (NYSE:REX) news were published by: Seekingalpha.com which released: “REX American Resources’ (REX) CEO Zafar Rizvi on Q4 2016 Results – Earnings …” on March 24, 2017, also Bizjournals.com with their article: “Dayton ethanol company plans up to $30M in plant expansions” published on April 03, 2017, Seekingalpha.com published: “REX American Resources’ (REX) CEO Zafar Rizvi on Q3 2017 Results – Earnings …” on November 29, 2017. More interesting news about REX American Resources Corporation (NYSE:REX) were released by: Businesswire.com and their article: “REX American Resources to Report Fiscal 2017 Q3 Results and Host Conference …” published on November 21, 2017 as well as Seekingalpha.com‘s news article titled: “REX American Resources Corp’s (REX) CEO Zafar Rizvi on Q2 2017 Results …” with publication date: August 30, 2017.

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