Could On Deck Capital, Inc. (ONDK) Change Direction After This Wedge Up Chart Pattern

December 7, 2017 - By Michael Collier

The stock of On Deck Capital, Inc. (ONDK) formed an up wedge with $5.58 target or 8.00 % above today’s $5.17 share price. The 7 months wedge indicates low risk for the $380.69M company. If the $5.58 price target is reached, the company will be worth $30.46M 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 0.77% or $0.04 during the last trading session, reaching $5.17. About 281,070 shares traded. On Deck Capital, Inc. (NYSE:ONDK) has declined 25.17% since December 8, 2016 and is downtrending. It has underperformed by 41.87% the S&P500.

On Deck Capital, Inc. (NYSE:ONDK) Ratings Coverage

Among 18 analysts covering On Deck Capital (NYSE:ONDK), 2 have Buy rating, 1 Sell and 15 Hold. Therefore 11% are positive. On Deck Capital had 55 analyst reports since July 31, 2015 according to SRatingsIntel. On Sunday, October 1 the stock rating was maintained by Canaccord Genuity with “Hold”. The stock of On Deck Capital, Inc. (NYSE:ONDK) has “Outperform” rating given on Wednesday, September 2 by FBR Capital. The firm earned “Outperform” rating on Thursday, May 26 by Macquarie Research. Keefe Bruyette & Woods downgraded On Deck Capital, Inc. (NYSE:ONDK) on Tuesday, May 31 to “Market Perform” rating. The firm has “Underperform” rating by Sterne Agee CRT given on Tuesday, May 3. The rating was maintained by JP Morgan with “Neutral” on Tuesday, August 9. The rating was maintained by Compass Point with “Sell” on Tuesday, November 3. The stock of On Deck Capital, Inc. (NYSE:ONDK) earned “Market Perform” rating by FBR Capital on Tuesday, May 3. The firm has “Buy” rating by Stifel Nicolaus given on Wednesday, April 19. Canaccord Genuity maintained it with “Hold” rating and $500 target in Monday, August 7 report.

More recent On Deck Capital, Inc. (NYSE:ONDK) news were published by: Fool.com which released: “Why On Deck Capital Stock Jumped More Than 20% on Monday” on August 07, 2017. Also Wsj.com published the news titled: “Activist Investor Pushes for New Strategy at On Deck Capital” on March 31, 2017. Wsj.com‘s news article titled: “On Deck Capital, a Fallen Fintech Star, to Focus on Turning a Profit” with publication date: May 08, 2017 was also an interesting one.

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