How Analysts Feel About iCAD, Inc. (ICAD) After Forming Bearish Ascending Triangle?

June 18, 2018 - By Henry Gaston


The stock of iCAD, Inc. (ICAD) formed an ascending triangle with $3.07 target or 4.00 % below today’s $3.20 share price. The 7 months triangle pattern indicates high risk for the $53.32M company. If the $3.07 price target is reached, the company will be worth $2.13M less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

The stock decreased 2.73% or $0.0899 during the last trading session, reaching $3.2001. About 25,770 shares traded. iCAD, Inc. (NASDAQ:ICAD) has declined 29.34% since June 18, 2017 and is downtrending. It has underperformed by 41.91% the S&P500.

Analysts await iCAD, Inc. (NASDAQ:ICAD) to report earnings on August, 14. They expect $-0.13 EPS, up 18.75 % or $0.03 from last year’s $-0.16 per share. After $-0.19 actual EPS reported by iCAD, Inc. for the previous quarter, Wall Street now forecasts -31.58 % EPS growth.

Another recent and important iCAD, Inc. (NASDAQ:ICAD) news was published by which published an article titled: “iCAD Named 2018 MedTech Breakthrough Award Winner” on June 06, 2018.

iCAD, Inc. provides image analysis, workflow solutions, and radiation therapy for the early identification and treatment of cancer in the United States and internationally. The company has market cap of $53.32 million. It operates through two divisions, Cancer Detection and Cancer Therapy. It currently has negative earnings. The firm provides electronic brachytherapy products, including Axxent eBx systems for the treatment of early stage breast cancer, endometrial cancer, cervical cancer, and skin cancer, as well as for treating other cancers or conditions where radiation therapy is indicated comprising intraoperative radiation therapy.

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