Hooker Furniture Corporation (HOFT) on Focus After Forming Wedge Up Pattern

December 7, 2017 - By Marry Poplack

Investors sentiment increased to 1.58 in Q2 2017. Its up 0.51, from 1.07 in 2017Q1. It is positive, as 9 investors sold Hooker Furniture Corporation shares while 29 reduced holdings. 31 funds opened positions while 29 raised stakes. 9.59 million shares or 0.99% more from 9.50 million shares in 2017Q1 were reported.
Hillsdale Invest Inc holds 29,200 shares or 0.24% of its portfolio. Legal And General Gp Public Ltd Com holds 0% or 2,424 shares. Chicago Equity Partners Limited invested in 0.01% or 10,580 shares. Alexandria Cap Ltd Liability Corp stated it has 0.01% in Hooker Furniture Corporation (NASDAQ:HOFT). Bb&T stated it has 125,257 shares. Strs Ohio reported 13,200 shares. Hancock Holdings invested 0.01% of its portfolio in Hooker Furniture Corporation (NASDAQ:HOFT). Retail Bank Of Montreal Can stated it has 0% in Hooker Furniture Corporation (NASDAQ:HOFT). National Bank & Trust Of America De holds 32,296 shares. Great West Life Assurance Co Can owns 0% invested in Hooker Furniture Corporation (NASDAQ:HOFT) for 1,200 shares. Franklin reported 413,084 shares stake. Manufacturers Life The accumulated 0% or 9,287 shares. Punch & Assocs Management has 288,685 shares. 15,235 were accumulated by Indexiq Limited Liability Corporation. Smith Salley & Assocs has 8,500 shares for 0.07% of their portfolio.

The stock of Hooker Furniture Corporation (HOFT) formed an up wedge with $50.44 target or 8.00 % above today’s $46.70 share price. The 8 months wedge indicates low risk for the $540.35M company. If the $50.44 price target is reached, the company will be worth $43.23M 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 9.85% or $5.1 during the last trading session, reaching $46.7. About 197,727 shares traded or 238.49% up from the average. Hooker Furniture Corporation (NASDAQ:HOFT) has risen 78.89% since December 8, 2016 and is uptrending. It has outperformed by 62.19% the S&P500.

More notable recent Hooker Furniture Corporation (NASDAQ:HOFT) news were published by: Seekingalpha.com which released: “Hooker Furniture: Can We See $50 In 2017?” on September 19, 2017, also Seekingalpha.com with their article: “Hooker Furniture’s (HOFT) CEO Paul Toms on Q2 2018 Results – Earnings Call …” published on September 07, 2017, Seekingalpha.com published: “Hooker Furniture Still Looks A Bit Too Expensive” on July 26, 2017. More interesting news about Hooker Furniture Corporation (NASDAQ:HOFT) were released by: Seekingalpha.com and their article: “Hooker Furniture’s Upside Has Been Captured” published on May 08, 2017 as well as Seekingalpha.com‘s news article titled: “Hooker Furniture’s (HOFT) CEO Paul Toms on Q1 2018 Results – Earnings Call …” with publication date: June 06, 2017.

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