Does Smith Micro Software, Inc. (SMSI) Have Any Gas After Forming This Multiple Bottom Pattern?

September 17, 2017 - By Vivian Park

The stock of Smith Micro Software, Inc. (SMSI) shows a multiple bottoms pattern with $1.08 target or 6.00 % below today’s $1.15 share price. The 7 months chart pattern indicates high risk for the $16.44M company. It was reported on Sep, 17 by Finviz.com. If the $1.08 price target is reached, the company will be worth $986,400 less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock increased 2.68% or $0.03 on September 15, reaching $1.15. About 12,569 shares traded. Smith Micro Software, Inc. (NASDAQ:SMSI) has declined 61.07% since September 17, 2016 and is downtrending. It has underperformed by 77.77% the S&P500.

More notable recent Smith Micro Software, Inc. (NASDAQ:SMSI) news were published by: Thestreet.com which released: “Why Smith Micro Software (SMSI) Stock Plummeted to a One-Year Low Today” on May 09, 2014, also Seekingalpha.com with their article: “Smith Micro Software’s (SMSI) CEO Bill Smith on Q4 2016 Results – Earnings …” published on March 10, 2017, Finance.Yahoo.com published: “Smith Micro Schedules Teleconference to Discuss First Quarter 2017 Financial …” on April 19, 2017. More interesting news about Smith Micro Software, Inc. (NASDAQ:SMSI) were released by: Prnewswire.com and their article: “Smith Micro to Acquire Birdstep Technology” published on March 08, 2016 as well as Prnewswire.com‘s news article titled: “Smith Micro Announces $4 Million Note and Warrant Financing” with publication date: September 06, 2016.

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