Could Gulf Island Fabrication, Inc. (GIFI) Gain Strenght After Forming Bullish Wedge Up?

December 7, 2017 - By Linda Rogers

Investors sentiment decreased to 1.38 in 2017 Q2. Its down 0.30, from 1.68 in 2017Q1. It dived, as 11 investors sold Gulf Island Fabrication, Inc. shares while 23 reduced holdings. 15 funds opened positions while 32 raised stakes. 9.34 million shares or 0.89% more from 9.25 million shares in 2017Q1 were reported.
Piermont Mngmt holds 72,225 shares. State Of Alaska Department Of Revenue owns 2,680 shares. Commercial Bank Of America Corp De invested in 26,613 shares. Wedge Mgmt L Limited Partnership Nc holds 0.02% of its portfolio in Gulf Island Fabrication, Inc. (NASDAQ:GIFI) for 135,741 shares. Zpr Invest Mgmt has 28,205 shares for 0.5% of their portfolio. Moreover, Jpmorgan Chase And has 0% invested in Gulf Island Fabrication, Inc. (NASDAQ:GIFI). Blackrock holds 1.75 million shares or 0% of its portfolio. Price T Rowe Assoc Md stated it has 16,238 shares or 0% of all its holdings. Schwab Charles Investment Mngmt Inc invested in 0% or 54,728 shares. Oklahoma-based Prescott Grp Mgmt Ltd Com has invested 0.82% in Gulf Island Fabrication, Inc. (NASDAQ:GIFI). Mason Street Advsr Ltd Liability accumulated 3,369 shares. Ancora Advisors Ltd Liability has invested 0.07% in Gulf Island Fabrication, Inc. (NASDAQ:GIFI). New York State Teachers Retirement Systems has invested 0% in Gulf Island Fabrication, Inc. (NASDAQ:GIFI). Tci Wealth invested in 0% or 311 shares. Wells Fargo & Company Mn accumulated 4 shares.

The stock of Gulf Island Fabrication, Inc. (GIFI) formed an up wedge with $12.79 target or 4.00 % above today’s $12.30 share price. The 5 months wedge indicates low risk for the $183.24 million company. If the $12.79 price target is reached, the company will be worth $7.33M 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 decreased 1.60% or $0.2 during the last trading session, reaching $12.3. About 37,560 shares traded. Gulf Island Fabrication, Inc. (NASDAQ:GIFI) has risen 43.64% since December 8, 2016 and is uptrending. It has outperformed by 26.94% the S&P500.

More notable recent Gulf Island Fabrication, Inc. (NASDAQ:GIFI) news were published by: Seekingalpha.com which released: “Gulf Island Fabrication’s CEO Kirk Meche on Q2 2017 Results – Earnings Call …” on July 28, 2017, also Nola.com with their article: “Covington’s LeeVac Shipyards sells assets to Gulf Island Fabrication for $20 …” published on January 05, 2016, Seekingalpha.com published: “Flush With Cash And Growing Backlog, Gulf Island Fabrication Positioned For …” on June 21, 2017. More interesting news about Gulf Island Fabrication, Inc. (NASDAQ:GIFI) were released by: Seekingalpha.com and their article: “Gulf Island Fabrication’s (GIFI) CEO Kirk Meche on Q3 2017 Results – Earnings …” published on October 27, 2017 as well as Businesswire.com‘s news article titled: “Gulf Island Fabrication, Inc. Announces the Completion of the Acquisition of …” with publication date: January 04, 2016.

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