Biostar Pharmaceuticals, Inc. (BSPM) Stock Formed Wedge Up Pattern. What To Expect?

December 7, 2017 - By Marry Poplack

The stock of Biostar Pharmaceuticals, Inc. (BSPM) formed an up wedge with $2.10 target or 8.00 % above today’s $1.94 share price. The 5 months wedge indicates low risk for the $5.12M company. If the $2.10 price target is reached, the company will be worth $409,280 more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 3.74% or $0.07 during the last trading session, reaching $1.94. About 39,395 shares traded. Biostar Pharmaceuticals, Inc. (NASDAQ:BSPM) has risen 57.27% since December 8, 2016 and is uptrending. It has outperformed by 40.57% the S&P500.

More notable recent Biostar Pharmaceuticals, Inc. (NASDAQ:BSPM) news were published by: Prnewswire.com which released: “Biostar Pharmaceuticals, Inc. Announces Its Quarterly Results for Nine Months …” on November 15, 2017, also Prnewswire.com with their article: “Biostar Pharmaceuticals, Inc. Announces Its Quarterly Results for Three Months …” published on August 22, 2016, Prnewswire.com published: “Biostar Pharmaceuticals Signs a Letter of Intent to Acquire Xianyang Yongsheng …” on September 22, 2016. More interesting news about Biostar Pharmaceuticals, Inc. (NASDAQ:BSPM) were released by: Prnewswire.com and their article: “Biostar Pharmaceuticals, Inc. Files a PRC Patent Application for Oleanolic …” published on September 18, 2014 as well as Prnewswire.com‘s news article titled: “Biostar Pharmaceuticals, Inc. Announces Its Quarterly Results for Three Months …” with publication date: November 15, 2017.

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