Traders Are Bullish Mizuho Financial Group Inc. (ADR) (MFG) After The Stock Formed Bullish Descending Triangle Pattern

July 17, 2017 - By Migdalia James

The stock of Mizuho Financial Group Inc. (ADR) (MFG) formed a descending triangle with $3.73 target or 5.00 % above today’s $3.55 share price. The 6 months triangle pattern indicates low risk for the $44.98 billion company. If the $3.73 price target is reached, the company will be worth $2.25B 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 decreased 0.56% or $0.02 on July 17, reaching $3.55. About 432,803 shares traded or 58.98% up from the average. Mizuho Financial Group Inc. (ADR) (NYSE:MFG) has risen 16.72% since July 17, 2016 and is uptrending. It has outperformed by 0.02% the S&P500.

Mizuho Financial Group Inc. (ADR) (NYSE:MFG) Ratings Coverage

Among 2 analysts covering Mizuho Financial Group (NYSE:MFG), 0 have Buy rating, 1 Sell and 1 Hold. Therefore 0 are positive. Mizuho Financial Group had 2 analyst reports since February 4, 2016 according to SRatingsIntel. The rating was downgraded by Jefferies to “Hold” on Thursday, February 4. The rating was downgraded by Citigroup on Thursday, February 4 to “Sell”.

Another recent and important Mizuho Financial Group Inc. (ADR) (NYSE:MFG) news was published by which published an article titled: “Mizuho Financial Group Inc. ADR” on February 11, 2011.

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