Could Top Image Systems Ltd. (TISA) See a Reversal After Having Formed Several Months Descending Triangle Chart Pattern

July 17, 2017 - By Marie Mckinney

The stock of Top Image Systems Ltd. (TISA) formed a descending triangle with $1.46 target or 8.00 % above today’s $1.35 share price. The 7 months triangle pattern indicates low risk for the $23.84M company. If the $1.46 price target is reached, the company will be worth $1.91 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 3.05% or $0.04 on July 17, reaching $1.35. About 8,404 shares traded. Top Image Systems Ltd. (NASDAQ:TISA) has declined 30.56% since July 17, 2016 and is downtrending. It has underperformed by 47.26% the S&P500.

Top Image Systems Ltd. (NASDAQ:TISA) Ratings Coverage

Among 3 analysts covering Top Image Systems (NASDAQ:TISA), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. Top Image Systems had 6 analyst reports since August 12, 2015 according to SRatingsIntel. The firm has “Hold” rating by Benchmark given on Wednesday, November 11. Zacks upgraded Top Image Systems Ltd. (NASDAQ:TISA) on Friday, August 14 to “Hold” rating. The company was maintained on Monday, July 10 by H.C. Wainwright. On Tuesday, November 10 the stock rating was maintained by TH Capital with “Buy”. H.C. Wainwright maintained the shares of TISA in report on Friday, March 11 with “Buy” rating. The firm has “Buy” rating by Benchmark given on Wednesday, August 12.

More notable recent Top Image Systems Ltd. (NASDAQ:TISA) news were published by: Reuters.com which released: “BRIEF-Top Image Systems names Patti Barton as interim CFO” on June 08, 2017, also Globenewswire.com with their article: “Top Image Systems Announces Sale of Convertible Notes to Hale Capital Partners LP” published on December 07, 2016, Globenewswire.com published: “Top Image Systems Announces Consolidation of the Executive Management Team” on June 08, 2017. More interesting news about Top Image Systems Ltd. (NASDAQ:TISA) were released by: Globenewswire.com and their article: “Top Image Systems Gains Traction in Accounts Payable Automation” published on March 21, 2017 as well as Globenewswire.com‘s news article titled: “Top Image Systems’ eFLOW┬« AP Gaining Traction in the Accounts Payable …” with publication date: June 28, 2017.

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