Time to Buy ESSA Bancorp, Inc. (ESSA) After The Completion of This Bullish Wedge Up Pattern?

December 7, 2017 - By Vivian Park

Investors sentiment increased to 1.29 in 2017 Q2. Its up 0.11, from 1.18 in 2017Q1. It increased, as 2 investors sold ESSA Bancorp, Inc. shares while 15 reduced holdings. 3 funds opened positions while 19 raised stakes. 4.58 million shares or 1.02% more from 4.53 million shares in 2017Q1 were reported.
Wells Fargo And Mn has 0% invested in ESSA Bancorp, Inc. (NASDAQ:ESSA) for 5,190 shares. Barclays Public Ltd accumulated 6 shares or 0% of the stock. Oppenheimer & Close Ltd Company stated it has 1.81% in ESSA Bancorp, Inc. (NASDAQ:ESSA). Beese Fulmer Invest Management Incorporated has 15,397 shares. Berkshire Asset Mgmt Pa owns 13,400 shares. Sei Invests reported 0% in ESSA Bancorp, Inc. (NASDAQ:ESSA). Nationwide Fund Advsrs stated it has 5,774 shares or 0% of all its holdings. Pennsylvania-based Vanguard has invested 0% in ESSA Bancorp, Inc. (NASDAQ:ESSA). Financial Bank Of Ny Mellon Corporation accumulated 57,289 shares. Foundry Partners Ltd Liability Com invested 0.12% in ESSA Bancorp, Inc. (NASDAQ:ESSA). 4,344 were accumulated by Retail Bank Of America Corp De. Tower Research Cap Ltd (Trc) holds 0% of its portfolio in ESSA Bancorp, Inc. (NASDAQ:ESSA) for 1,237 shares. Schwab Charles Investment Mgmt Incorporated holds 12,500 shares or 0% of its portfolio. Creative Planning invested in 38,500 shares or 0% of the stock. Ameritas Investment Prns invested in 636 shares.

The stock of ESSA Bancorp, Inc. (ESSA) formed an up wedge with $16.66 target or 5.00 % above today’s $15.87 share price. The 9 months wedge indicates low risk for the $160.40 million company. If the $16.66 price target is reached, the company will be worth $8.02 million 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 0.06% or $0.01 during the last trading session, reaching $15.87. About 4,402 shares traded. ESSA Bancorp, Inc. (NASDAQ:ESSA) has risen 7.02% since December 8, 2016 and is uptrending. It has underperformed by 9.68% the S&P500.

More news for ESSA Bancorp, Inc. (NASDAQ:ESSA) were recently published by: Delcotimes.com, which released: “Upper Darby’s Eagle National Bank sold to ESSA Bancorp” on August 01, 2015. Globenewswire.com‘s article titled: “ESSA Bancorp, Inc. (Nasdaq: ESSA) to Ring The Nasdaq Stock Market Closing Bell” and published on November 15, 2016 is yet another important article.

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