What Next for Daily Journal Corporation (DJCO) After Forming Bullish Wedge Up Chart Pattern?

December 13, 2017 - By Winifred Garcia

Investors sentiment decreased to 1 in Q2 2017. Its down 0.27, from 1.27 in 2017Q1. It dropped, as 2 investors sold Daily Journal Corporation shares while 14 reduced holdings. 3 funds opened positions while 13 raised stakes. 515,546 shares or 1.96% more from 505,626 shares in 2017Q1 were reported.
Pacific Glob Invest Mgmt Co has invested 0.22% in Daily Journal Corporation (NASDAQ:DJCO). California State Teachers Retirement Sys holds 0% or 1,993 shares. Rhumbline Advisers invested in 1,376 shares or 0% of the stock. Wells Fargo Mn reported 0% stake. American Gp reported 0% of its portfolio in Daily Journal Corporation (NASDAQ:DJCO). Morgan Stanley holds 0% of its portfolio in Daily Journal Corporation (NASDAQ:DJCO) for 1,762 shares. State Street Corp holds 0% of its portfolio in Daily Journal Corporation (NASDAQ:DJCO) for 18,670 shares. Tiaa Cref Inv Ltd Llc owns 3,188 shares. National Bank & Trust Of America Corp De invested in 0% or 14 shares. Manufacturers Life Co The accumulated 1,051 shares or 0% of the stock. Neuberger Berman Grp Ltd Com stated it has 1,000 shares or 0% of all its holdings. Legal General Grp Public Ltd invested in 282 shares or 0% of the stock. Deutsche Commercial Bank Ag accumulated 1,413 shares or 0% of the stock. Creative Planning stated it has 0% in Daily Journal Corporation (NASDAQ:DJCO). Geode Mngmt Ltd Liability Company holds 7,909 shares.

The stock of Daily Journal Corporation (DJCO) formed an up wedge with $251.95 target or 5.00 % above today’s $239.95 share price. The 5 months wedge indicates low risk for the $331.31 million company. If the $251.95 price target is reached, the company will be worth $16.57M 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 0.61% or $1.45 during the last trading session, reaching $239.95. About 1,599 shares traded. Daily Journal Corporation (NASDAQ:DJCO) has risen 7.41% since December 13, 2016 and is uptrending. It has underperformed by 9.29% the S&P500.

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