Is Buying Stock Like Ball Corporation (BLL) After This Bullish Double Top Chart Pattern a Winning Strategy?

December 7, 2017 - By Vivian Park

Investors sentiment increased to 7.64 in Q2 2017. Its up 6.58, from 1.06 in 2017Q1. It is positive, as 38 investors sold Ball Corporation shares while 9 reduced holdings. 62 funds opened positions while 297 raised stakes. 585.36 million shares or 303.31% more from 145.14 million shares in 2017Q1 were reported.
Park Natl Oh holds 18,920 shares or 0.05% of its portfolio. Nomura Asset Management owns 42,400 shares. Next Grp reported 0% in Ball Corporation (NYSE:BLL). Adirondack Company reported 0% stake. Paloma Partners Management holds 0.01% or 16,267 shares. C M Bidwell & Associates Ltd accumulated 55,780 shares. 14,740 are owned by First Midwest Savings Bank Trust Division. Benjamin F Edwards & Co has 2,300 shares. Strs Ohio invested in 27,092 shares. Bailard Incorporated stated it has 0.14% of its portfolio in Ball Corporation (NYSE:BLL). Ny State Common Retirement Fund holds 0.06% or 1.13 million shares in its portfolio. Highland Cap Management Llc has invested 0.05% in Ball Corporation (NYSE:BLL). Moreover, Jefferies Group Incorporated has 0.01% invested in Ball Corporation (NYSE:BLL) for 30,220 shares. Parametric Associate Limited Company invested in 603,119 shares. Veritas Invest Management Ltd Liability Partnership accumulated 0% or 114 shares.

Since June 14, 2017, it had 0 insider buys, and 1 sale for $869,329 activity.

The chart of Ball Corporation (BLL) shows a double top with $44.48 target or 9.00 % above today’s $40.81 share price. The 8 months chart pattern indicates low risk for the $14.29B company. It was reported on Dec, 7 by Finviz.com. If the $44.48 price target is reached, the company will be worth $1.29B more. Double tops are rare but powerful chart patterns.

The stock increased 0.02% or $0.01 during the last trading session, reaching $40.81. About 1.67M shares traded. Ball Corporation (NYSE:BLL) has risen 12.13% since December 7, 2016 and is uptrending. It has underperformed by 4.57% the S&P500.

Analysts await Ball Corporation (NYSE:BLL) to report earnings on February, 1. They expect $0.52 EPS, up 18.18 % or $0.08 from last year’s $0.44 per share. BLL’s profit will be $182.03M for 19.62 P/E if the $0.52 EPS becomes a reality. After $0.52 actual EPS reported by Ball Corporation for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

Ball Corporation (NYSE:BLL) Ratings Coverage

Among 14 analysts covering Ball Corporation (NYSE:BLL), 9 have Buy rating, 0 Sell and 5 Hold. Therefore 64% are positive. Ball Corporation had 34 analyst reports since October 15, 2015 according to SRatingsIntel. The rating was maintained by BMO Capital Markets with “Hold” on Friday, July 7. On Friday, September 29 the stock rating was maintained by Jefferies with “Buy”. The firm has “Neutral” rating by Citigroup given on Friday, July 29. The firm has “Buy” rating by Jefferies given on Wednesday, December 9. RBC Capital Markets maintained the shares of BLL in report on Monday, November 6 with “Buy” rating. As per Thursday, March 31, the company rating was upgraded by JP Morgan. The company was maintained on Friday, June 23 by Jefferies. The firm earned “Hold” rating on Friday, August 25 by BMO Capital Markets. The stock of Ball Corporation (NYSE:BLL) earned “Buy” rating by Deutsche Bank on Tuesday, July 18. BMO Capital Markets maintained the shares of BLL in report on Wednesday, September 27 with “Hold” rating.

More recent Ball Corporation (NYSE:BLL) news were published by: Nasdaq.com which released: “Ball Corporation (BLL) Ex-Dividend Date Scheduled for November 30, 2017” on November 29, 2017. Also Nasdaq.com published the news titled: “Ball Corporation (BLL) Down to Strong Sell on Dismal Trends” on November 15, 2017. Prnewswire.com‘s news article titled: “Ball Receives Multiple 2017 AEROBAL World Aluminium Aerosol Awards for its L …” with publication date: December 05, 2017 was also an interesting one.

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