What’s Next for Oconee Federal Financial Corp. (OFED) After Forming Ascending Triangle?

December 8, 2017 - By Clifton Ray

Investors sentiment increased to 19 in 2017 Q2. Its up 18.50, from 0.5 in 2017Q1. It improved, as 1 investors sold Oconee Federal Financial Corp. shares while 0 reduced holdings. 17 funds opened positions while 2 raised stakes. 278,922 shares or 178.94% more from 99,995 shares in 2017Q1 were reported.
Ny State Common Retirement Fund has invested 0% in Oconee Federal Financial Corp. (NASDAQ:OFED). Deutsche National Bank Ag owns 0% invested in Oconee Federal Financial Corp. (NASDAQ:OFED) for 1,384 shares. American Grp Inc holds 0% of its portfolio in Oconee Federal Financial Corp. (NASDAQ:OFED) for 772 shares. Northern Corp stated it has 9,911 shares. Tower Rech Ltd Liability (Trc), a New York-based fund reported 402 shares. Barclays Pcl owns 1 shares or 0% of their US portfolio. Minerva Advsr Limited Liability Corp holds 0.35% or 22,902 shares. Strs Ohio holds 0% of its portfolio in Oconee Federal Financial Corp. (NASDAQ:OFED) for 400 shares. 131 are owned by Bnp Paribas Arbitrage. Legal & General Gru Public Limited Company has 411 shares. Royal Bankshares Of Canada stated it has 4 shares. Ameritas Inv Ptnrs Inc holds 109 shares. The New York-based Tiaa Cref Inv Management Ltd Liability has invested 0% in Oconee Federal Financial Corp. (NASDAQ:OFED). Jpmorgan Chase And stated it has 10 shares. Arbiter Prtnrs Limited holds 43,399 shares.

The stock of Oconee Federal Financial Corp. (OFED) formed an ascending triangle with $27.10 target or 8.00 % below today’s $29.46 share price. The 6 months triangle pattern indicates high risk for the $166.94 million company. If the $27.10 price target is reached, the company will be worth $13.35M 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.

The stock decreased 0.20% or $0.06 during the last trading session, reaching $29.46. About 782 shares traded. Oconee Federal Financial Corp. (NASDAQ:OFED) has risen 41.16% since December 8, 2016 and is uptrending. It has outperformed by 24.46% the S&P500.

More important recent Oconee Federal Financial Corp. (NASDAQ:OFED) news were published by: Seekingalpha.com which released: “Oconee Federal Financial – Well Capitalized And Profitable Bank With A Dual …” on July 16, 2015, also Businesswire.com published article titled: “Oconee Federal Financial Corp. Announces Agreement to Acquire Stephens Federal …”, Businesswire.com published: “Oconee Federal Financial Corp. Announces Appointment of New Chief Financial …” on March 30, 2017. More interesting news about Oconee Federal Financial Corp. (NASDAQ:OFED) was released by: Marketwatch.com and their article: “Oconee Federal Financial Corp.” with publication date: February 11, 2011.

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