After Forming Double Top Pattern, Is Fang Holdings Limited (SFUN)’s Near-Term Analysis Positive?

June 21, 2018 - By Nellie Frank

The chart of Fang Holdings Limited (SFUN) shows a double top with $4.48 target or 5.00 % above today’s $4.27 share price. The 7 months chart pattern indicates low risk for the $1.89 billion company. It was reported on Jun, 21 by Finviz.com. If the $4.48 price target is reached, the company will be worth $94.70 million more. Double tops are rare but powerful chart patterns.

The stock decreased 0.81% or $0.035 during the last trading session, reaching $4.265. About 614,529 shares traded. Fang Holdings Limited (NYSE:SFUN) has risen 49.45% since June 21, 2017 and is uptrending. It has outperformed by 36.88% the S&P500.

Fang Holdings Limited operates a real estate Internet portal through which it provides e-commerce, marketing, listing, financial, and value-added services. The company has market cap of $1.89 billion. It supports active online communities and networks of users seeking information on, and other value-added services for, the real estate and home furnishing and improvement sectors. It has a 118.47 P/E ratio. The firm was formerly known as SouFun Holdings Limited and changed its name to Fang Holdings Limited in September 2016.

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