Some Traders Are Very Bullish on REX American Resources Corporation (REX) After Forming Descending Triangle Chart Pattern

December 8, 2017 - By Linda Rogers

Investors sentiment decreased to 1.11 in Q2 2017. Its down 0.23, from 1.34 in 2017Q1. It dived, as 15 investors sold REX American Resources Corporation shares while 40 reduced holdings. 21 funds opened positions while 40 raised stakes. 5.74 million shares or 0.65% less from 5.78 million shares in 2017Q1 were reported.
Principal Inc accumulated 45,331 shares or 0% of the stock. Barclays Public Ltd Company has invested 0% of its portfolio in REX American Resources Corporation (NYSE:REX). Sei Investments owns 0% invested in REX American Resources Corporation (NYSE:REX) for 145 shares. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta owns 16,200 shares for 0.01% of their portfolio. Alexandria Capital Ltd Llc reported 405 shares. Envestnet Asset Mgmt Inc reported 0% in REX American Resources Corporation (NYSE:REX). Swiss Retail Bank has invested 0% in REX American Resources Corporation (NYSE:REX). Goldman Sachs Group Inc holds 0% or 54,631 shares in its portfolio. Wells Fargo And Company Mn invested 0% in REX American Resources Corporation (NYSE:REX). Dimensional Fund Advisors Limited Partnership holds 552,588 shares or 0.02% of its portfolio. United Serv Automobile Association holds 0% or 5,800 shares. Meeder Asset Management holds 0% or 376 shares in its portfolio. Citigroup reported 63 shares. Menta Cap Limited Liability Com has 0.11% invested in REX American Resources Corporation (NYSE:REX) for 9,212 shares. Convergence Investment Prtnrs Ltd Liability reported 10,028 shares.

The stock of REX American Resources Corporation (REX) formed a descending triangle with $90.96 target or 5.00 % above today’s $86.63 share price. The 5 months triangle pattern indicates low risk for the $568.88M company. If the $90.96 price target is reached, the company will be worth $28.44M 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 1.17% or $1 during the last trading session, reaching $86.63. About 45,085 shares traded or 7.84% up from the average. REX American Resources Corporation (NYSE:REX) has risen 85.58% since December 8, 2016 and is uptrending. It has outperformed by 68.88% the S&P500.

REX American Resources Corporation (NYSE:REX) Ratings Coverage

Among 2 analysts covering REX American Resources (NYSE:REX), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. REX American Resources had 2 analyst reports since December 3, 2015 according to SRatingsIntel. As per Thursday, September 15, the company rating was initiated by Feltl & Co. Singular Research maintained the stock with “Buy” rating in Thursday, December 3 report.

More notable recent REX American Resources Corporation (NYSE:REX) news were published by: Businesswire.com which released: “REX American Resources to Report Fiscal 2017 Q3 Results and Host Conference …” on November 21, 2017, also Bizjournals.com with their article: “Dayton ethanol company plans up to $30M in plant expansions” published on April 03, 2017, Seekingalpha.com published: “REX American Resources’ (REX) CEO Zafar Rizvi on Q4 2016 Results – Earnings …” on March 24, 2017. More interesting news about REX American Resources Corporation (NYSE:REX) were released by: Seekingalpha.com and their article: “REX American Resources’ (REX) CEO Zafar Rizvi on Q3 2017 Results – Earnings …” published on November 29, 2017 as well as Seekingalpha.com‘s news article titled: “REX American Resources Corp’s (REX) CEO Zafar Rizvi on Q2 2017 Results …” with publication date: August 30, 2017.

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