Stock News

Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria (CRESY) Stock Faces Higher Risks Forward After Forming Bearish Wedge Down

Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria (NASDAQ:CRESY) Logo

The stock of Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria (CRESY) formed a down wedge with $11.18 target or 4.00 % below today’s $11.65 share price. The 6 months wedge indicates high risk for the $560.34 million company. If the $11.18 price target is reached, the company will be worth $22.41M 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 3.32% or $0.4 during the last trading session, reaching $11.65. About 97,318 shares traded. Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria (NASDAQ:CRESY) has declined 30.18% since November 10, 2017 and is downtrending. It has underperformed by 45.80% the S&P500.

Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria, an agricultural company, produces basic agricultural commodities in Brazil and other Latin American countries. The company has market cap of $560.34 million. The companyÂ’s Agricultural business is involved in planting, harvesting, and sale of crops, such as wheat, corn, soybean, cotton, and sunflower, as well as sugarcane; breeding, purchasing, and fattening of beef cattle for sale to meat processors and local livestock auction markets; producing raw milk for sale to local milk and milk-related products producers; leasing of farms to third parties; disposal and development of farmlands activities; and feedlot farming, as well as meat slaughtering and processing activities. It has a 2.91 P/E ratio. The Company’s Investment and Development Properties business engages in the commercial exploitation, development, and lease of commercial facilities and other spaces in shopping centers; lease and servicing of office spaces other rental properties; development, sale, and maintenance of undeveloped parcels of land and/or trading properties; operation of hotels; and provision of consumer financing services.

- Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Leave a Reply

Your email address will not be published. Required fields are marked *

*