What’s Ahead for MDU Resources Group Inc (MDU) After Forming Ascending Triangle Chart Pattern?

July 17, 2017 - By Darrin Black

Investors sentiment decreased to 0.89 in Q4 2016. Its down 0.16, from 1.05 in 2016Q3. It fall, as 35 investors sold MDU Resources Group Inc shares while 113 reduced holdings. 55 funds opened positions while 77 raised stakes. 123.56 million shares or 0.28% less from 123.91 million shares in 2016Q3 were reported.
Montgomery Investment Management holds 2.6% or 210,203 shares in its portfolio. Buckingham Asset stated it has 0.09% of its portfolio in MDU Resources Group Inc (NYSE:MDU). National Planning Corp reported 0.02% of its portfolio in MDU Resources Group Inc (NYSE:MDU). Sg Americas Limited Liability has 41,359 shares for 0.01% of their portfolio. Allianz Asset Mngmt Ag accumulated 719,842 shares. Huntington Bank & Trust invested in 0% or 6,651 shares. Group One Trading Ltd Partnership invested 0% of its portfolio in MDU Resources Group Inc (NYSE:MDU). Gemmer Asset Mgmt Limited Com reported 124 shares. Utah Retirement, a Utah-based fund reported 35,352 shares. Thrivent For Lutherans holds 0.07% or 558,850 shares in its portfolio. Prudential Public Limited Co reported 14,600 shares. Cetera Advsr Limited Company invested in 0.02% or 7,804 shares. Dekabank Deutsche Girozentrale invested 0.01% in MDU Resources Group Inc (NYSE:MDU). Monroe Retail Bank Mi, a Michigan-based fund reported 500 shares. Ameriprise reported 0.01% in MDU Resources Group Inc (NYSE:MDU).

The stock of MDU Resources Group Inc (MDU) formed an ascending triangle with $24.87 target or 3.00 % below today’s $25.64 share price. The 6 months triangle pattern indicates high risk for the $5.01B company. If the $24.87 price target is reached, the company will be worth $150.30 million less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

About 386,683 shares traded. MDU Resources Group Inc (NYSE:MDU) has risen 22.88% since July 17, 2016 and is uptrending. It has outperformed by 6.18% the S&P500.

MDU Resources Group Inc (NYSE:MDU) Ratings Coverage

Among 4 analysts covering MDU Resources (NYSE:MDU), 0 have Buy rating, 1 Sell and 3 Hold. Therefore 0 are positive. MDU Resources had 7 analyst reports since August 6, 2015 according to SRatingsIntel. The company was downgraded on Monday, February 13 by Argus Research. As per Tuesday, May 31, the company rating was upgraded by Argus Research.

Another recent and important MDU Resources Group Inc (NYSE:MDU) news was published by Prnewswire.com which published an article titled: “MDU Resources Announces Webcast of Analyst Conference Call” on June 29, 2017.

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