What Will Happen to Medigus Ltd. (MDGS) Next? The Stock Formed a Several Months Multiple Bottom Pattern

June 14, 2018 - By Kenneth Lin

The stock of Medigus Ltd. (MDGS) shows a multiple bottoms pattern with $1.19 target or 5.00 % below today’s $1.25 share price. The 6 months chart pattern indicates high risk for the $5.06M company. It was reported on Jun, 14 by Finviz.com. If the $1.19 price target is reached, the company will be worth $252,850 less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 2.55% or $0.03 during the last trading session, reaching $1.25. About 11,415 shares traded. Medigus Ltd. (NASDAQ:MDGS) has declined 42.29% since June 14, 2017 and is downtrending. It has underperformed by 54.86% the S&P500.

More news for Medigus Ltd. (NASDAQ:MDGS) were recently published by: Globenewswire.com, which released: “Medigus Ltd Announces First Quarter 2018 Financial Results” on June 11, 2018. Nasdaq.com‘s article titled: “Medigus to Present New Data On The MUSEâ„¢ System at Digestive Disease Week® (DDW) 2018” and published on May 30, 2018 is yet another important article.

Medigus Ltd., a medical device company, develops, makes, and markets surgical endostaplers and direct vision systems for minimally invasive medical procedures in the United States, Europe, Asia, and internationally. The company has market cap of $5.06 million. It offers MUSE, an ultrasonic surgical endostapler system for the treatment of gastroesophageal reflux disease; and miniaturized video cameras for use in various medical procedures, as well as specialized industrial applications. It currently has negative earnings.

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