What’s Transportadora de Gas del Sur SA (ADR) (TGS) Downside After Forming Ascending Triangle?

July 17, 2017 - By Darrin Black

The stock of Transportadora de Gas del Sur SA (ADR) (TGS) formed an ascending triangle with $14.87 target or 5.00 % below today’s $15.65 share price. The 9 months triangle pattern indicates high risk for the $1.24B company. If the $14.87 price target is reached, the company will be worth $62.00 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 153,758 shares traded. Transportadora de Gas del Sur SA (ADR) (NYSE:TGS) has risen 148.84% since July 17, 2016 and is uptrending. It has outperformed by 132.14% the S&P500.

Transportadora de Gas del Sur SA (ADR) (NYSE:TGS) Ratings Coverage

Among 2 analysts covering Transportadora de Gas Del Sur S.A. (NYSE:TGS), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. Transportadora de Gas Del Sur S.A. had 2 analyst reports since October 8, 2015 according to SRatingsIntel. The firm has “Hold” rating by Santander given on Thursday, October 8. The rating was upgraded by Raymond James to “Outperform” on Tuesday, April 5.

More news for Transportadora de Gas del Sur SA (ADR) (NYSE:TGS) were recently published by: Quotes.Wsj.com, which released: “Transportadora de Gas del Sur SA ADR” on February 13, 2011. Marketwatch.com‘s article titled: “16.32” and published on November 09, 2010 is yet another important article.

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