Nomura Holdings Inc (ADR) (NMR) on Focus After Forming Bullish Descending Triangle Pattern

July 17, 2017 - By Adrian Erickson

The stock of Nomura Holdings Inc (ADR) (NMR) formed a descending triangle with $6.43 target or 9.00 % above today’s $5.90 share price. The 9 months triangle pattern indicates low risk for the $22.56B company. If the $6.43 price target is reached, the company will be worth $2.03B 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.

It closed at $5.9 lastly. It is down 46.51% since July 17, 2016 and is uptrending. It has outperformed by 29.81% the S&P500.

Nomura Holdings Inc (ADR) (NYSE:NMR) Ratings Coverage

Among 6 analysts covering Nomura Holdings Inc (NYSE:NMR), 1 have Buy rating, 0 Sell and 5 Hold. Therefore 17% are positive. Nomura Holdings Inc had 9 analyst reports since July 23, 2015 according to SRatingsIntel. The rating was downgraded by Jefferies to “Hold” on Monday, February 8. The firm has “Neutral” rating by Jefferies given on Monday, June 27. The company was initiated on Friday, July 29 by JP Morgan. The firm has “Hold” rating given on Thursday, September 1 by Jefferies. The firm has “Overweight” rating given on Friday, March 17 by Morgan Stanley. The stock of Nomura Holdings Inc (ADR) (NYSE:NMR) has “Hold” rating given on Monday, February 8 by Deutsche Bank. The firm has “Equal-Weight” rating by Morgan Stanley given on Friday, July 8. UBS downgraded Nomura Holdings Inc (ADR) (NYSE:NMR) on Thursday, July 23 to “Neutral” rating. The company was downgraded on Friday, April 7 by Bank of America.

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