Time to Buy On Deck Capital, Inc. (ONDK) After The Completion of This Wedge Up Chart Pattern?

December 7, 2017 - By Vivian Currie

The stock of On Deck Capital, Inc. (ONDK) formed an up wedge with $5.58 target or 8.00 % above today’s $5.17 share price. The 7 months wedge indicates low risk for the $380.69M company. If the $5.58 price target is reached, the company will be worth $30.46M 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 0.77% or $0.04 during the last trading session, reaching $5.17. About 281,070 shares traded. On Deck Capital, Inc. (NYSE:ONDK) has declined 25.17% since December 8, 2016 and is downtrending. It has underperformed by 41.87% the S&P500.

On Deck Capital, Inc. (NYSE:ONDK) Ratings Coverage

Among 18 analysts covering On Deck Capital (NYSE:ONDK), 2 have Buy rating, 1 Sell and 15 Hold. Therefore 11% are positive. On Deck Capital had 55 analyst reports since July 31, 2015 according to SRatingsIntel. Jefferies maintained it with “Hold” rating and $5.0 target in Friday, November 3 report. The firm has “Buy” rating given on Wednesday, April 19 by Stifel Nicolaus. The firm earned “Underperform” rating on Tuesday, May 3 by Sterne Agee CRT. Canaccord Genuity downgraded the shares of ONDK in report on Tuesday, May 3 to “Hold” rating. The rating was downgraded by Wood on Tuesday, May 31 to “Market Perform”. As per Tuesday, May 3, the company rating was downgraded by BTIG Research. Jefferies maintained it with “Hold” rating and $5.0 target in Friday, September 22 report. The firm has “Hold” rating given on Sunday, November 5 by Canaccord Genuity. As per Wednesday, September 30, the company rating was initiated by JMP Securities. The stock has “Hold” rating by Needham on Tuesday, May 3.

More recent On Deck Capital, Inc. (NYSE:ONDK) news were published by: Fool.com which released: “Why On Deck Capital Stock Jumped More Than 20% on Monday” on August 07, 2017. Also Wsj.com published the news titled: “On Deck Capital, a Fallen Fintech Star, to Focus on Turning a Profit” on May 08, 2017. Wsj.com‘s news article titled: “Activist Investor Pushes for New Strategy at On Deck Capital” with publication date: March 31, 2017 was also an interesting one.

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