Could Evogene Ltd. (EVGN) See a Reversal After Having Formed Several Months Bearish Wedge Down

July 14, 2018 - By mmahotstuff

Evogene Ltd. (NASDAQ:EVGN) Logo

The stock of Evogene Ltd. (EVGN) formed a down wedge with $2.66 target or 7.00 % below today’s $2.86 share price. The 8 months wedge indicates high risk for the $74.19 million company. If the $2.66 price target is reached, the company will be worth $5.19M 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 decreased 3.70% or $0.11 during the last trading session, reaching $2.86. About 16,362 shares traded or 60.00% up from the average. Evogene Ltd. (NASDAQ:EVGN) has declined 42.16% since July 14, 2017 and is downtrending. It has underperformed by 54.73% the S&P500.

More recent Evogene Ltd. (NASDAQ:EVGN) news were published by: which released: “20 Stocks Moving In Tuesday’s Pre-Market Session” on July 10, 2018. Also published the news titled: “Evogene Announces Positive Yield Results in its Bio-Stimulant Program for Wheat” on July 10, 2018.‘s news article titled: “Evogene (EVGN) Reports Positive Yield Results in Bio-Stimulant Program for Wheat” with publication date: July 10, 2018 was also an interesting one.

Evogene Ltd., a biotechnology company, focuses on the enhancement of crop productivity and performance in the United States and Germany. The company has market cap of $74.19 million. It operates through two divisions, Evogene and Evofuel. It currently has negative earnings. The Evogene segment develops seed traits, ag-chemical products, and ag-biological products to enhance plant performance.

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