What will happen next?
The stock of SAExploration Holdings, Inc. (SAEX) formed a down wedge with $2.46 target or 9.00 % below today’s $2.70 share price. The 7 months wedge indicates high risk for the $26.86M company. If the $2.46 price target is reached, the company will be worth $2.42M 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 5.26% or $0.15 on September 15, reaching $2.7. About 190,841 shares traded or 194.92% up from the average. SAExploration Holdings, Inc. (NASDAQ:SAEX) has declined 95.11% since September 16, 2016 and is downtrending. It has underperformed by 111.81% the S&P500