After Forming Double Top Pattern, Is Wecast Network Inc (WCST)’s Near-Term Analysis Positive?

June 19, 2017 - By reb123z

The chart of Wecast Network Inc (WCST) shows a double top with $2.04 target or 3.00 % above today’s $1.98 share price. The 9 months chart pattern indicates low risk for the $124.72 million company. It was reported on Jun, 19 by Finviz.com. If the $2.04 price target is reached, the company will be worth $3.74M more. Double tops are rare but powerful chart patterns.

About 32,371 shares traded. Wecast Network Inc (NASDAQ:WCST) has risen 80.00% since June 19, 2016 and is uptrending. It has outperformed by 63.30% the S&P500.

More notable recent Wecast Network Inc (NASDAQ:WCST) news were published by: Prnewswire.com which released: “Wecast Network, Inc. to Report Q4 and Full Year 2016 Results and Host Investor …” on March 17, 2017, also Prnewswire.com with their article: “Wecast Network Acquires 55% of Wide Angle Group Limited” published on February 02, 2017, Reuters.com published: “BRIEF-Wecast Network reports Q1 earnings per share $0.04” on May 15, 2017. More interesting news about Wecast Network Inc (NASDAQ:WCST) were released by: Seekingalpha.com and their article: “Wecast lands 51% stake in NextGen Exchange Group” published on June 12, 2017 as well as Seekingalpha.com‘s news article titled: “Wecast Network -3.7% after swing to profit” with publication date: May 15, 2017.

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