Bearish Chart Formation for Richardson Electronics, Ltd. (RELL) After Forming Bearish Double Bottom

June 19, 2017 - By Darrin Black

Investors sentiment decreased to 1.2 in 2016 Q4. Its down 0.18, from 1.38 in 2016Q3. It dived, as 3 investors sold Richardson Electronics, Ltd. shares while 7 reduced holdings. 2 funds opened positions while 10 raised stakes. 6.48 million shares or 0.40% less from 6.50 million shares in 2016Q3 were reported.
Royal Bancorporation Of Canada invested in 21,200 shares or 0% of the stock. Dimensional Fund Ltd Partnership invested in 0% or 977,113 shares. Deutsche Bancorporation Ag holds 30,359 shares or 0% of its portfolio. 33,162 are held by National Bank Of Mellon. 118,211 are owned by Bridgeway Capital. Blackrock Institutional Tru Com Na invested in 301,007 shares. Thompson Siegel Walmsley accumulated 0% or 900 shares. Geode Capital Management Limited Liability Com invested in 0% or 68,429 shares. California Employees Retirement Systems accumulated 51,000 shares. Vanguard Grp reported 487,082 shares stake. Franklin Resources stated it has 0% of its portfolio in Richardson Electronics, Ltd. (NASDAQ:RELL). Ancora Advsr Lc stated it has 193,052 shares. Nationwide Fund Advsr reported 2,700 shares or 0% of all its holdings. Boothbay Fund Ltd Liability reported 28,908 shares. Moreover, Wells Fargo Mn has 0% invested in Richardson Electronics, Ltd. (NASDAQ:RELL) for 1 shares.

The chart of Richardson Electronics, Ltd. (RELL) shows a double bottom with $5.73 target or 3.00 % below today’s $5.91 share price. The 5 months chart pattern indicates high risk for the $75.55M company. It was reported on Jun, 19 by Finviz.com. If the $5.73 price target is reached, the company will be worth $2.27M less. Double bottoms are rare but powerful chart patterns.

It closed at $5.91 lastly. It is down 17.64% since June 19, 2016 and is uptrending. It has outperformed by 0.94% the S&P500.

Analysts expect Richardson Electronics, Ltd. (NASDAQ:RELL) to report $0.00 EPS on July, 19.

More notable recent Richardson Electronics, Ltd. (NASDAQ:RELL) news were published by: Globenewswire.com which released: “Richardson Electronics Sells Its PACS Display Business to Double Black Imaging” on May 25, 2017, also Businesswire.com with their article: “Richardson Electronics and Anaren Sign Global Distribution Agreement” published on May 11, 2016, Thestreet.com published: “Richardson Electronics Stock Downgraded (RELL)” on July 28, 2014. More interesting news about Richardson Electronics, Ltd. (NASDAQ:RELL) were released by: Businesswire.com and their article: “Richardson Electronics, Ltd. and Ioxus, Inc. Sign Global Distribution Agreement” published on July 15, 2015 as well as Seekingalpha.com‘s news article titled: “About: Richardson Electronics, (RELL)” with publication date: April 11, 2016.

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