PhaseRx, Inc. (PZRX)’s Stock Formed A Several Months Bearish Multiple Bottom Chart Pattern

December 7, 2017 - By Peter Erickson

The stock of PhaseRx, Inc. (PZRX) shows a multiple bottoms pattern with $0.93 target or 7.00 % below today’s $1.00 share price. The 9 months chart pattern indicates high risk for the $11.69M company. It was reported on Dec, 7 by Finviz.com. If the $0.93 price target is reached, the company will be worth $818,300 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 7.41% or $0.08 during the last trading session, reaching $1. About 1.93M shares traded or 83.09% up from the average. PhaseRx, Inc. (NASDAQ:PZRX) has 0.00% since December 7, 2016 and is . It has underperformed by 16.70% the S&P500.

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