Some Traders Are Very Bullish on REX American Resources Corporation (REX) After Forming Bullish Descending Triangle Chart Pattern

December 8, 2017 - By Henry Gaston

Investors sentiment decreased to 1.11 in 2017 Q2. Its down 0.23, from 1.34 in 2017Q1. It dived, as 15 investors sold REX American Resources Corporation shares while 40 reduced holdings. 21 funds opened positions while 40 raised stakes. 5.74 million shares or 0.65% less from 5.78 million shares in 2017Q1 were reported.
Convergence Investment Prtnrs Lc holds 0.14% or 10,028 shares in its portfolio. 10 are owned by Parkside Fincl Bank And Tru. Bancorp Of Ny Mellon Corporation owns 92,268 shares for 0% of their portfolio. Texas Permanent School Fund owns 0.01% invested in REX American Resources Corporation (NYSE:REX) for 4,118 shares. Sei Investments, a Pennsylvania-based fund reported 145 shares. Teachers Retirement System Of The State Of Kentucky holds 0% in REX American Resources Corporation (NYSE:REX) or 1,800 shares. Jefferies Gp Lc, a New York-based fund reported 3,200 shares. Creative Planning holds 0% in REX American Resources Corporation (NYSE:REX) or 405 shares. Moreover, First Citizens Bank & Trust Com has 0.03% invested in REX American Resources Corporation (NYSE:REX). Secor Capital Advisors Ltd Partnership invested in 2,672 shares or 0.02% of the stock. Amer Group holds 0% of its portfolio in REX American Resources Corporation (NYSE:REX) for 4,334 shares. Sg Americas Ltd has invested 0% in REX American Resources Corporation (NYSE:REX). Parametric Portfolio Assoc Limited Liability reported 0% of its portfolio in REX American Resources Corporation (NYSE:REX). 8,554 were accumulated by Granite Inv Prtn. Pinebridge Invs L P reported 8,039 shares or 0.02% of all its holdings.

The stock of REX American Resources Corporation (REX) formed a descending triangle with $90.96 target or 5.00 % above today’s $86.63 share price. The 5 months triangle pattern indicates low risk for the $568.88M company. If the $90.96 price target is reached, the company will be worth $28.44M more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock increased 1.17% or $1 during the last trading session, reaching $86.63. About 45,085 shares traded or 7.84% up from the average. REX American Resources Corporation (NYSE:REX) has risen 85.58% since December 8, 2016 and is uptrending. It has outperformed by 68.88% the S&P500.

REX American Resources Corporation (NYSE:REX) Ratings Coverage

Among 2 analysts covering REX American Resources (NYSE:REX), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. REX American Resources had 2 analyst reports since December 3, 2015 according to SRatingsIntel. As per Thursday, September 15, the company rating was initiated by Feltl & Co. Singular Research maintained the shares of REX in report on Thursday, December 3 with “Buy” rating.

More notable recent REX American Resources Corporation (NYSE:REX) news were published by: Businesswire.com which released: “REX American Resources to Report Fiscal 2017 Q3 Results and Host Conference …” on November 21, 2017, also Seekingalpha.com with their article: “REX American Resources Corp’s (REX) CEO Zafar Rizvi on Q2 2017 Results …” published on August 30, 2017, Seekingalpha.com published: “REX American Resources’ (REX) CEO Zafar Rizvi on Q3 2017 Results – Earnings …” on November 29, 2017. More interesting news about REX American Resources Corporation (NYSE:REX) were released by: Bizjournals.com and their article: “Dayton ethanol company plans up to $30M in plant expansions” published on April 03, 2017 as well as Seekingalpha.com‘s news article titled: “REX American Resources’ (REX) CEO Zafar Rizvi on Q4 2016 Results – Earnings …” with publication date: March 24, 2017.

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