Traders Are Bearish Manchester United plc (MANU) After The Stock Formed Bearish Wedge Down Pattern

April 25, 2018 - By Kenneth Lin

Manchester United plc (NYSE:MANU) Logo

Investors sentiment increased to 2.38 in 2017 Q4. Its up 1.13, from 1.25 in 2017Q3. It increased, as 5 investors sold Manchester United plc shares while 8 reduced holdings. 16 funds opened positions while 15 raised stakes. 34.72 million shares or 3.66% more from 33.50 million shares in 2017Q3 were reported.
Virginia-based Thompson Davis & Co Inc has invested 0.06% in Manchester United plc (NYSE:MANU). Focused Wealth Management has 0% invested in Manchester United plc (NYSE:MANU). Lindsell Train Limited stated it has 7.74 million shares. Gsa Capital Partners Limited Liability Partnership owns 0.01% invested in Manchester United plc (NYSE:MANU) for 10,859 shares. State Street has invested 0% in Manchester United plc (NYSE:MANU). Acadian Asset Mngmt Ltd Liability Corp has 0% invested in Manchester United plc (NYSE:MANU) for 357 shares. Renaissance Limited Liability Corporation holds 0.01% in Manchester United plc (NYSE:MANU) or 624,887 shares. Us Financial Bank De reported 0% in Manchester United plc (NYSE:MANU). Citigroup holds 621 shares or 0% of its portfolio. Lansdowne Partners (Uk) Ltd Liability Partnership reported 0.9% of its portfolio in Manchester United plc (NYSE:MANU). Credit Suisse Ag has 0.01% invested in Manchester United plc (NYSE:MANU). Norman Fields Gottscho Capital Ltd Liability Corp reported 186,800 shares. Gabelli Funds Ltd Liability Co reported 43,500 shares. California Pub Employees Retirement reported 40,300 shares stake. The New Jersey-based Roundview Ltd Company has invested 0.24% in Manchester United plc (NYSE:MANU).

The stock of Manchester United plc (MANU) formed a down wedge with $17.80 target or 8.00 % below today’s $19.35 share price. The 9 months wedge indicates high risk for the $3.18B company. If the $17.80 price target is reached, the company will be worth $254.16 million less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 1.84% or $0.35 during the last trading session, reaching $19.35. About 33,858 shares traded or 4.97% up from the average. Manchester United plc (NYSE:MANU) has risen 15.69% since April 25, 2017 and is uptrending. It has outperformed by 4.14% the S&P500.

Analysts await Manchester United plc (NYSE:MANU) to report earnings on May, 15. They expect $-0.03 earnings per share, up 40.00 % or $0.02 from last year’s $-0.05 per share. After $0.13 actual earnings per share reported by Manchester United plc for the previous quarter, Wall Street now forecasts -123.08 % negative EPS growth.

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