What’s in Tennessee Valley Authority (TVE) After Forming Descending Triangle?

February 15, 2018 - By Adrian Mccoy

The stock of Tennessee Valley Authority (TVE) formed a descending triangle with $27.46 target or 9.00 % above today’s $25.19 share price. The 8 months triangle pattern indicates low risk for the $13.22M company. If the $27.46 price target is reached, the company will be worth $1.19 million more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock increased 0.67% or $0.17 during the last trading session, reaching $25.19. About 32,514 shares traded or 217.52% up from the average. Tennessee Valley Authority (NYSE:TVE) has declined 2.80% since February 15, 2017 and is downtrending. It has underperformed by 19.50% the S&P500.

More news for Tennessee Valley Authority (NYSE:TVE) were recently published by: Timesfreepress.com, which released: “TVA opens spillways, closes boat ramps, shuts down barge traffic as Tennessee …” on February 15, 2018. Timesfreepress.com‘s article titled: “TVA blasted for shifting costs from industry to homeowners” and published on January 30, 2018 is yet another important article.

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