After Forming Bearish Wedge Down Chart Pattern, Is Ocean Bio-Chem, Inc. (OBCI)’s Near-Term Analysis Negative?

February 15, 2018 - By Darrin Black

Investors sentiment increased to 4 in Q3 2017. Its up 1.00, from 3 in 2017Q2. It is positive, as 0 investors sold Ocean Bio-Chem, Inc. shares while 2 reduced holdings. 0 funds opened positions while 8 raised stakes. 654,064 shares or 193.12% more from 223,136 shares in 2017Q2 were reported.
Geode Cap Management Limited Liability Com reported 26,292 shares. Dimensional Fund Advsrs Ltd Partnership invested 0% of its portfolio in Ocean Bio-Chem, Inc. (NASDAQ:OBCI). Morgan Stanley holds 370 shares or 0% of its portfolio. Essex Investment Management Co Ltd Company invested in 0.06% or 87,441 shares. Vanguard Grp Inc reported 0% in Ocean Bio-Chem, Inc. (NASDAQ:OBCI). James has invested 0% in Ocean Bio-Chem, Inc. (NASDAQ:OBCI). Panagora Asset Inc stated it has 0% in Ocean Bio-Chem, Inc. (NASDAQ:OBCI). Renaissance Technologies reported 47,700 shares. California Pub Employees Retirement System owns 31,895 shares. Deutsche Bancorp Ag invested 0% in Ocean Bio-Chem, Inc. (NASDAQ:OBCI). Blackrock holds 0% of its portfolio in Ocean Bio-Chem, Inc. (NASDAQ:OBCI) for 12,459 shares.

The stock of Ocean Bio-Chem, Inc. (OBCI) formed a down wedge with $3.77 target or 6.00 % below today’s $4.01 share price. The 6 months wedge indicates high risk for the $37.06M company. If the $3.77 price target is reached, the company will be worth $2.22M 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 increased 2.13% or $0.0836 during the last trading session, reaching $4.0136. About 101 shares traded. Ocean Bio-Chem, Inc. (NASDAQ:OBCI) has risen 96.36% since February 15, 2017 and is uptrending. It has outperformed by 79.66% the S&P500.

More notable recent Ocean Bio-Chem, Inc. (NASDAQ:OBCI) news were published by: Streetinsider.com which released: “Form 8-K OCEAN BIO CHEM INC For: Jan 17” on January 18, 2018, also Prnewswire.com with their article: “Ocean Bio-Chem, Inc. Reports Record 2017 & Fourth Quarter 2017 Net Sales and …” published on January 17, 2018, Quotes.Wsj.com published: “Ocean Bio-Chem Inc. OBCI (US: Nasdaq)” on February 12, 2011. More interesting news about Ocean Bio-Chem, Inc. (NASDAQ:OBCI) were released by: Thestreet.com and their article: “Ocean Bio-Chem (OBCI) Stock Surges After Q2 Earnings” published on August 15, 2016 as well as Prnewswire.com‘s news article titled: “Ocean Bio-Chem, Inc. Reports Third Quarter and Nine Month Financial Results” with publication date: November 14, 2017.

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