Could Gulf Island Fabrication, Inc. (GIFI) Change Direction After This Bullish Wedge Up Chart Pattern

December 7, 2017 - By Louis Casey

Investors sentiment decreased to 1.38 in 2017 Q2. Its down 0.30, from 1.68 in 2017Q1. It turned negative, as 11 investors sold Gulf Island Fabrication, Inc. shares while 23 reduced holdings. 15 funds opened positions while 32 raised stakes. 9.34 million shares or 0.89% more from 9.25 million shares in 2017Q1 were reported.
27,276 were reported by Rhumbline Advisers. Morgan Dempsey Cap Mngmt Limited Co holds 82,899 shares. National Bank & Trust Of America De holds 0% or 26,613 shares in its portfolio. Goldman Sachs Inc stated it has 0% in Gulf Island Fabrication, Inc. (NASDAQ:GIFI). Brandywine Glob Management Limited Liability Corporation stated it has 0% of its portfolio in Gulf Island Fabrication, Inc. (NASDAQ:GIFI). 91,658 are owned by Geode Mgmt Ltd Liability. Tiaa Cref Investment Mgmt Limited Liability has 44,267 shares for 0% of their portfolio. Morgan Stanley reported 0% of its portfolio in Gulf Island Fabrication, Inc. (NASDAQ:GIFI). Moreover, Menta Ltd Limited Liability Company has 0.02% invested in Gulf Island Fabrication, Inc. (NASDAQ:GIFI) for 12,964 shares. State Of Tennessee Treasury Department reported 13,027 shares stake. Ameritas Investment Ptnrs holds 1,199 shares. Dimensional Fund Advisors Limited Partnership accumulated 1.19 million shares or 0.01% of the stock. Ancora Ltd Liability Co, a Us-based fund reported 89,277 shares. State Common Retirement Fund holds 0% or 14,600 shares in its portfolio. Ny State Teachers Retirement Systems invested in 36,138 shares or 0% of the stock.

The stock of Gulf Island Fabrication, Inc. (GIFI) formed an up wedge with $12.79 target or 4.00 % above today’s $12.30 share price. The 5 months wedge indicates low risk for the $183.24 million company. If the $12.79 price target is reached, the company will be worth $7.33M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 1.60% or $0.2 during the last trading session, reaching $12.3. About 37,560 shares traded. Gulf Island Fabrication, Inc. (NASDAQ:GIFI) has risen 43.64% since December 8, 2016 and is uptrending. It has outperformed by 26.94% the S&P500.

More notable recent Gulf Island Fabrication, Inc. (NASDAQ:GIFI) news were published by: Seekingalpha.com which released: “Gulf Island Fabrication’s (GIFI) CEO Kirk Meche on Q3 2017 Results – Earnings …” on October 27, 2017, also Nola.com with their article: “Covington’s LeeVac Shipyards sells assets to Gulf Island Fabrication for $20 …” published on January 05, 2016, Seekingalpha.com published: “Gulf Island Fabrication’s (GIFI) CEO Kirk Meche on Q4 2016 Results – Earnings …” on February 24, 2017. More interesting news about Gulf Island Fabrication, Inc. (NASDAQ:GIFI) were released by: Businesswire.com and their article: “Gulf Island Fabrication, Inc. Announces Agreement to Acquire LEEVAC Shipyards …” published on December 23, 2015 as well as Seekingalpha.com‘s news article titled: “Gulf Island Fabrication’s (GIFI) on Q1 2017 Results – Earnings Call Transcript” with publication date: April 29, 2017.

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