Is Buying Stock Like Cytosorbents Corporation (CTSO) After This Wedge Up Chart Pattern a Winning Strategy?

December 7, 2017 - By Clifton Ray

Investors sentiment decreased to 0.73 in 2017 Q2. Its down 2.41, from 3.14 in 2017Q1. It fall, as 4 investors sold Cytosorbents Corporation shares while 11 reduced holdings. 3 funds opened positions while 8 raised stakes. 1.87 million shares or 55.22% less from 4.19 million shares in 2017Q1 were reported.
Royal Bancorporation Of Canada reported 1,800 shares. Comml Bank Of Mellon Corporation reported 0% of its portfolio in Cytosorbents Corporation (NASDAQ:CTSO). Barclays Public Limited reported 0% stake. Fortaleza Asset Inc, a Illinois-based fund reported 12,875 shares. Morgan Stanley accumulated 2,507 shares. Raymond James & Assoc reported 50,000 shares stake. Private Advisor Grp Lc stated it has 0% of its portfolio in Cytosorbents Corporation (NASDAQ:CTSO). Jpmorgan Chase And reported 0% stake. Moreover, Peak6 L P has 0% invested in Cytosorbents Corporation (NASDAQ:CTSO) for 21,231 shares. Aviance Capital Management Limited Co has invested 0% in Cytosorbents Corporation (NASDAQ:CTSO). New York-based Blackrock has invested 0% in Cytosorbents Corporation (NASDAQ:CTSO). Creative Planning has invested 0% of its portfolio in Cytosorbents Corporation (NASDAQ:CTSO). State Street reported 12,000 shares stake. Northern Corp has invested 0% in Cytosorbents Corporation (NASDAQ:CTSO). Bancorporation Of America De invested in 0% or 200 shares.

The stock of Cytosorbents Corporation (CTSO) formed an up wedge with $7.36 target or 9.00 % above today’s $6.75 share price. The 5 months wedge indicates low risk for the $193.67 million company. If the $7.36 price target is reached, the company will be worth $17.43M 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%.

The stock increased 0.37% or $0.03 during the last trading session, reaching $6.75. About 69,790 shares traded. Cytosorbents Corporation (NASDAQ:CTSO) has declined 4.26% since December 8, 2016 and is downtrending. It has underperformed by 20.96% the S&P500.

Analysts await Cytosorbents Corporation (NASDAQ:CTSO) to report earnings on March, 2. They expect $-0.12 earnings per share, up 25.00 % or $0.04 from last year’s $-0.16 per share. After $-0.07 actual earnings per share reported by Cytosorbents Corporation for the previous quarter, Wall Street now forecasts 71.43 % negative EPS growth.

Cytosorbents Corporation (NASDAQ:CTSO) Ratings Coverage

Among 7 analysts covering CytoSorbents (NASDAQ:CTSO), 7 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. CytoSorbents had 12 analyst reports since October 29, 2015 according to SRatingsIntel. H.C. Wainwright maintained Cytosorbents Corporation (NASDAQ:CTSO) rating on Tuesday, September 26. H.C. Wainwright has “Buy” rating and $13.0 target. B. Riley & Co initiated Cytosorbents Corporation (NASDAQ:CTSO) on Friday, October 7 with “Buy” rating. The stock has “Buy” rating by Aegis Capital on Wednesday, October 26. The stock of Cytosorbents Corporation (NASDAQ:CTSO) earned “Buy” rating by Maxim Group on Wednesday, July 5. The firm has “Buy” rating given on Thursday, October 29 by WBB Securities. The rating was maintained by Maxim Group on Tuesday, August 8 with “Buy”. The rating was initiated by Maxim Group on Tuesday, May 24 with “Buy”. The company was maintained on Monday, July 17 by Maxim Group. Aegis Capital maintained the shares of CTSO in report on Tuesday, May 30 with “Buy” rating.

More notable recent Cytosorbents Corporation (NASDAQ:CTSO) news were published by: Prnewswire.com which released: “CytoSorbents – A Leader in Blood Purification to Treat Deadly Inflammation …” on June 06, 2017, also Seekingalpha.com with their article: “CytoSorbents’ (CTSO) CEO Dr. Phillip Chan on Q2 2017 Results – Earnings Call …” published on August 08, 2017, Seekingalpha.com published: “Why CytoSorbents And Spectral Medical Inc Are Not Good Stocks For A Long Position” on August 04, 2017. More interesting news about Cytosorbents Corporation (NASDAQ:CTSO) were released by: Seekingalpha.com and their article: “Cytosorbents: A Razor & Razor Blade Story” published on June 28, 2017 as well as Seekingalpha.com‘s news article titled: “Cytosorbents Corp (CTSO) CEO Phillip Chan Q3 2017 Results – Earnings Call …” with publication date: November 10, 2017.

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