A Reversal for DragonWave, Inc.(USA) (DRWI) Is Not Near. The Formed Multiple Bottom Pattern

July 18, 2017 - By Dolores Ford

The stock of DragonWave, Inc.(USA) (DRWI) shows a multiple bottoms pattern with $1.00 target or 4.00 % below today’s $1.04 share price. The 9 months chart pattern indicates high risk for the $9.45 million company. It was reported on Jul, 18 by Finviz.com. If the $1.00 price target is reached, the company will be worth $378,000 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 4.95% or $0.05 on July 17, reaching $1.04. About shares traded. DragonWave, Inc.(USA) (NASDAQ:DRWI) has declined 77.66% since July 18, 2016 and is downtrending. It has underperformed by 94.36% the S&P500.

More important recent DragonWave, Inc.(USA) (NASDAQ:DRWI) news were published by: Benzinga.com which released: “Mid-Afternoon Market Update: Crude Oil Up 1%; DragonWave Shares Plunge” on July 13, 2017, also Investorplace.com published article titled: “Why DragonWave, Inc.(USA) (DRWI) Stock Is Skyrocketing Today”, Benzinga.com published: “18 Stocks Moving In Thursday’s Pre-Market Session” on October 20, 2016. More interesting news about DragonWave, Inc.(USA) (NASDAQ:DRWI) was released by: Marketwired.com and their article: “DragonWave Inc. to Announce First Quarter Fiscal Year 2018 Results on July 12 …” with publication date: June 29, 2017.

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