Some Traders Are Very Bearish on Appliance Recycling Centers of America (ARCI) After Forming Double Bottom Pattern

September 17, 2017 - By Vivian Currie

Investors sentiment decreased to 0.5 in Q4 2016. Its down 2.00, from 2.5 in 2016Q3. It worsened, as 3 investors sold Appliance Recycling Centers of America shares while 1 reduced holdings. 1 funds opened positions while 1 raised stakes. 481,792 shares or 10.15% more from 437,407 shares in 2016Q3 were reported.
Moreover, Blackrock Fund Advsr has 0% invested in Appliance Recycling Centers of America (NASDAQ:ARCI). Vanguard owns 0% invested in Appliance Recycling Centers of America (NASDAQ:ARCI) for 25,498 shares. 185,900 were reported by Renaissance Technologies Ltd Company. Bancshares Of Mellon holds 0% or 10,025 shares in its portfolio. Massachusetts-based Grt Prns Lc has invested 0.02% in Appliance Recycling Centers of America (NASDAQ:ARCI). Perkins Capital Mngmt Inc invested in 0.23% or 190,000 shares. First Wilshire Secs Inc owns 15,000 shares.

The chart of Appliance Recycling Centers of America (ARCI) shows a double bottom with $1.36 target or 3.00 % below today’s $1.40 share price. The 6 months chart pattern indicates high risk for the $9.32M company. It was reported on Sep, 17 by Finviz.com. If the $1.36 price target is reached, the company will be worth $279,600 less. Double bottoms are rare but powerful chart patterns.

The stock decreased 0.71% or $0.01 on September 15, reaching $1.4. About 235,805 shares traded. Appliance Recycling Centers of America (NASDAQ:ARCI) has declined 27.42% since September 17, 2016 and is downtrending. It has underperformed by 44.12% the S&P500.

More notable recent Appliance Recycling Centers of America (NASDAQ:ARCI) news were published by: Startribune.com which released: “Appliance Recycling Centers of America CEO Jack Cameron retires for second time” on February 29, 2016, also Prnewswire.com with their article: “Appliance Recycling Centers of America Launches Statewide Program in Wisconsin” published on February 13, 2017, Recyclingtoday.com published: “Appliance Recycling Centers of America acquires GeoTraq” on September 14, 2017. More interesting news about Appliance Recycling Centers of America (NASDAQ:ARCI) were released by: Prnewswire.com and their article: “Appliance Recycling Centers of America Regains Compliance with Nasdaq Listing Rule” published on September 08, 2017 as well as Seekingalpha.com‘s news article titled: “Appliance Recycling Centers Of America Is About To Unlock Shareholder Value” with publication date: September 13, 2017.

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