Is Buying IRSA Inversiones y Representaciones Sociedad Anónima (IRS) Here a Winning Strategy? The Stock Formed Bullish Wedge Up

December 7, 2017 - By Migdalia James

The stock of IRSA Inversiones y Representaciones Sociedad Anónima (IRS) formed an up wedge with $31.76 target or 7.00 % above today’s $29.68 share price. The 9 months wedge indicates low risk for the $1.63B company. If the $31.76 price target is reached, the company will be worth $114.31M 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 2.31% or $0.67 during the last trading session, reaching $29.68. About 106,888 shares traded or 62.48% up from the average. IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS) has risen 79.62% since December 8, 2016 and is uptrending. It has outperformed by 62.92% the S&P500.

IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS) Ratings Coverage

Among 2 analysts covering IRSA Inversiones (NYSE:IRS), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. IRSA Inversiones had 4 analyst reports since August 11, 2015 according to SRatingsIntel. The stock has “Overweight” rating by Morgan Stanley on Wednesday, November 23. Zacks upgraded the shares of IRS in report on Monday, September 7 to “Hold” rating. The stock of IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS) has “Equal-Weight” rating given on Thursday, July 21 by Morgan Stanley. On Tuesday, August 11 the stock rating was downgraded by Morgan Stanley to “Overweight”.

More news for IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS) were recently published by: Benzinga.com, which released: “40 Big Brands Likely Returning To Argentina With The Government Change” on December 08, 2015. Nasdaq.com‘s article titled: “Mid-Day Market Update: Sorl Auto Parts Drops After Q2 Results; CEL-SCI Shares …” and published on August 14, 2017 is yet another important article.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.