Does IRSA Inversiones y Representaciones Sociedad Anónima (IRS) Have Any Gas After Forming This Wedge Up?

December 7, 2017 - By Winifred Garcia

The stock of IRSA Inversiones y Representaciones Sociedad Anónima (IRS) formed an up wedge with $31.76 target or 7.00 % above today’s $29.68 share price. The 9 months wedge indicates low risk for the $1.63B company. If the $31.76 price target is reached, the company will be worth $114.31M 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 increased 2.31% or $0.67 during the last trading session, reaching $29.68. About 106,888 shares traded or 62.48% up from the average. IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS) has risen 79.62% since December 8, 2016 and is uptrending. It has outperformed by 62.92% the S&P500.

IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS) Ratings Coverage

Among 2 analysts covering IRSA Inversiones (NYSE:IRS), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. IRSA Inversiones had 4 analyst reports since August 11, 2015 according to SRatingsIntel. The stock of IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS) earned “Overweight” rating by Morgan Stanley on Wednesday, November 23. Morgan Stanley downgraded the stock to “Equal-Weight” rating in Thursday, July 21 report. The rating was upgraded by Zacks on Monday, September 7 to “Hold”. Morgan Stanley downgraded IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS) on Tuesday, August 11 to “Overweight” rating.

More news for IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS) were recently published by: Benzinga.com, which released: “40 Big Brands Likely Returning To Argentina With The Government Change” on December 08, 2015. Nasdaq.com‘s article titled: “Mid-Day Market Update: Sorl Auto Parts Drops After Q2 Results; CEL-SCI Shares …” and published on August 14, 2017 is yet another important article.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.