Is Source Capital, Inc. (SOR) a Buy? The Stock Formed Bullish Wedge Up Pattern

July 17, 2017 - By test

Investors sentiment increased to 1.43 in 2016 Q4. Its up 0.01, from 1.42 in 2016Q3. It increased, as 3 investors sold Source Capital, Inc. shares while 11 reduced holdings. 7 funds opened positions while 13 raised stakes. 815,104 shares or 46.01% more from 558,247 shares in 2016Q3 were reported.
Duncker Streett & Inc has 0% invested in Source Capital, Inc. (NYSE:SOR). Synovus Corp has 55 shares. Stratos Wealth Prns Ltd holds 9,104 shares or 0.02% of its portfolio. Lafayette Invests Incorporated has 6,289 shares for 0.09% of their portfolio. Landscape Cap Mgmt Limited Liability Company stated it has 67,819 shares or 0.33% of all its holdings. Bancorp Of America De holds 0% of its portfolio in Source Capital, Inc. (NYSE:SOR) for 34,094 shares. Raymond James And Assoc holds 0% or 8,318 shares in its portfolio. Wells Fargo & Communication Mn holds 0% or 8,452 shares. Invesco has invested 0% in Source Capital, Inc. (NYSE:SOR). Mraz Amerine And Assocs invested in 0.71% or 62,805 shares. Reilly Advisors Limited Liability holds 0% or 29 shares in its portfolio. Pecaut And Communication accumulated 1.99% or 57,065 shares. Guggenheim Capital Llc holds 0% or 9,442 shares in its portfolio. Weiss Asset Lp reported 6,204 shares. Cornerstone Advsr has 28,938 shares.

The stock of Source Capital, Inc. (SOR) formed an up wedge with $42.74 target or 8.00 % above today’s $39.57 share price. The 7 months wedge indicates low risk for the $342.76 million company. If the $42.74 price target is reached, the company will be worth $27.42 million 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%.

About 6,931 shares traded. Source Capital, Inc. (NYSE:SOR) has risen 5.83% since July 17, 2016 and is uptrending. It has underperformed by 10.87% the S&P500.

Another recent and important Source Capital, Inc. (NYSE:SOR) news was published by Reuters.com which published an article titled: “Greenlight Capital investors pull out more than $400 million in H1: WSJ” on July 13, 2017.

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