Is BlueLinx Holdings Inc. (BXC) a Buy? The Stock Formed Bullish Multiple Top

September 17, 2017 - By Marguerite Chambers

The stock of BlueLinx Holdings Inc. (BXC) shows a multiple tops pattern with $10.77 target or 4.00 % above today’s $10.36 share price. The 9 months chart pattern indicates low risk for the $94.26M company. It was reported on Sep, 17 by Finviz.com. If the $10.77 price target is reached, the company will be worth $3.77M more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock decreased 4.07% or $0.44 on September 15, reaching $10.36. About 57,010 shares traded or 98.22% up from the average. BlueLinx Holdings Inc. (NYSE:BXC) has risen 34.71% since September 17, 2016 and is uptrending. It has outperformed by 18.01% the S&P500.

More notable recent BlueLinx Holdings Inc. (NYSE:BXC) news were published by: Globenewswire.com which released: “BlueLinx Completes Sale and Lease Agreement of Tampa Distribution Facility” on January 25, 2017, also Law360.com with their article: “SEC Shows No Patience For Muzzling Whistleblowers” published on August 12, 2016, Globenewswire.com published: “BlueLinx Announces Deleveraging Plan” on April 21, 2016. More interesting news about BlueLinx Holdings Inc. (NYSE:BXC) were released by: Seekingalpha.com and their article: “BlueLinx Holdings’ (BXC) CEO Mitchell Lewis on Q3 2016 Results – Earnings Call …” published on November 10, 2016 as well as Globenewswire.com‘s news article titled: “BlueLinx Announces Filing of Selling Stockholder Shelf Registration Statement” with publication date: August 28, 2017.

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