Tredegar Corporation (TG) Formed a Multiple Bottom Chart Pattern, Could Be One of The Worst Performers Going Forward

September 17, 2017 - By Marry Poplack

Investors sentiment decreased to 1.11 in Q4 2016. Its down 0.47, from 1.58 in 2016Q3. It worsened, as 9 investors sold Tredegar Corporation shares while 35 reduced holdings. 13 funds opened positions while 36 raised stakes. 20.77 million shares or 1.90% more from 20.38 million shares in 2016Q3 were reported.
State Of Alaska Department Of Revenue accumulated 2,740 shares. California-based Blackrock Fund Advsrs has invested 0.01% in Tredegar Corporation (NYSE:TG). Creative Planning reported 1,214 shares. Smithfield Tru invested in 7,518 shares. Principal Fincl Grp Inc reported 184,824 shares. State Bank Of America De reported 0% stake. 2.29M were reported by Vanguard Group Incorporated. Stifel Financial Corporation holds 30,989 shares or 0% of its portfolio. Blackrock Grp Ltd holds 0% or 45,827 shares in its portfolio. Teton Advsrs Inc owns 375,000 shares for 0.9% of their portfolio. Sector Pension Invest Board has invested 0% in Tredegar Corporation (NYSE:TG). Swiss Natl Bank reported 35,800 shares or 0% of all its holdings. 544,874 were accumulated by State Street. Arizona State Retirement Systems has 0% invested in Tredegar Corporation (NYSE:TG) for 12,984 shares. Da Davidson & owns 0% invested in Tredegar Corporation (NYSE:TG) for 786 shares.

The stock of Tredegar Corporation (TG) shows a multiple bottoms pattern with $15.56 target or 6.00 % below today’s $16.55 share price. The 7 months chart pattern indicates high risk for the $546.65 million company. It was reported on Sep, 17 by Finviz.com. If the $15.56 price target is reached, the company will be worth $32.80M 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 decreased 0.15% or $0.03 on September 15, reaching $16.55. About 170,708 shares traded or 135.03% up from the average. Tredegar Corporation (NYSE:TG) has risen 1.69% since September 17, 2016 and is uptrending. It has underperformed by 15.01% the S&P500.

More important recent Tredegar Corporation (NYSE:TG) news were published by: Finance.Yahoo.com which released: “Tredegar Corporation Announces Agreement to Acquire Aluminum Extruder Futura …” on February 01, 2017, also Nasdaq.com published article titled: “Tredegar Corporation (TG) Ex-Dividend Date Scheduled for June 14, 2017”, Nasdaq.com published: “Tredegar Corporation (TG) Ex-Dividend Date Scheduled for September 14, 2017” on September 13, 2017. More interesting news about Tredegar Corporation (NYSE:TG) was released by: Seekingalpha.com and their article: “Tredegar Corporation announces acquisition of Futura Industries” with publication date: February 02, 2017.

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.