What’s DXP Enterprises Inc (DXPE) Downside After Forming Ascending Triangle Pattern?

July 17, 2017 - By Stephen Andrade

Investors sentiment increased to 1.92 in 2016 Q4. Its up 0.75, from 1.17 in 2016Q3. It is positive, as 11 investors sold DXP Enterprises Inc shares while 26 reduced holdings. 27 funds opened positions while 44 raised stakes. 12.83 million shares or 13.71% more from 11.28 million shares in 2016Q3 were reported.
Ls Invest Advisors has invested 0% in DXP Enterprises Inc (NASDAQ:DXPE). Thrivent For Lutherans has 0% invested in DXP Enterprises Inc (NASDAQ:DXPE) for 8,400 shares. Gmt Cap Corporation owns 0.76% invested in DXP Enterprises Inc (NASDAQ:DXPE) for 1.05 million shares. Moreover, First Mercantile Co has 0.02% invested in DXP Enterprises Inc (NASDAQ:DXPE) for 4,008 shares. Citigroup Inc holds 41,414 shares. Texas Permanent School Fund reported 11,253 shares. 21,856 were reported by Rhumbline Advisers. Northwestern Mutual Wealth Management Communication invested in 0% or 100 shares. Moreover, Credit Suisse Ag has 0% invested in DXP Enterprises Inc (NASDAQ:DXPE). Northern Trust Corporation reported 0% stake. Blackrock Incorporated invested in 0% or 3,089 shares. The New York-based Goldman Sachs Gru has invested 0% in DXP Enterprises Inc (NASDAQ:DXPE). Pinebridge Investments Lp reported 0.01% stake. Teachers Retirement Of The State Of Kentucky invested in 0% or 4,300 shares. Moreover, Van Berkom And Inc has 1.26% invested in DXP Enterprises Inc (NASDAQ:DXPE).

Since January 30, 2017, it had 0 insider purchases, and 3 insider sales for $386,741 activity. The insider YEE KENT NEE HUNG sold 4,000 shares worth $150,520. DAVIS CLETUS had sold 3,065 shares worth $118,861 on Monday, January 30.

The stock of DXP Enterprises Inc (DXPE) formed an ascending triangle with $34.14 target or 3.00 % below today’s $35.20 share price. The 6 months triangle pattern indicates high risk for the $617.81M company. If the $34.14 price target is reached, the company will be worth $18.53M 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 59,357 shares traded. DXP Enterprises Inc (NASDAQ:DXPE) has risen 200.39% since July 17, 2016 and is uptrending. It has outperformed by 183.69% the S&P500.

More notable recent DXP Enterprises Inc (NASDAQ:DXPE) news were published by: Seekingalpha.com which released: “DXP Enterprises’ (DXPE) CEO David Little on Q1 2017 Results – Earnings Call …” on May 16, 2017, also Seekingalpha.com with their article: “DXP Enterprises’ (DXPE) CEO David Little on Q3 2016 Results – Earnings Call …” published on November 15, 2016, Fool.com published: “Why DXP Enterprises, Inc.’s Shares Popped 51% Today” on August 10, 2016. More interesting news about DXP Enterprises Inc (NASDAQ:DXPE) were released by: Prnewswire.com and their article: “SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of …” published on May 12, 2017 as well as Seekingalpha.com‘s news article titled: “DXP Enterprises’ (DXPE) CEO David Little on Q4 2016 Results – Earnings Call …” with publication date: March 31, 2017.

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