Is Selling SSR Mining Inc. (SSRM) Here a Winning Strategy? The Stock Formed Bearish Multiple Bottom Chart Pattern

February 15, 2018 - By Peter Erickson

The stock of SSR Mining Inc. (SSRM) shows a multiple bottoms pattern with $7.98 target or 9.00 % below today’s $8.77 share price. The 7 months chart pattern indicates high risk for the $1.04 billion company. It was reported on Feb, 15 by Finviz.com. If the $7.98 price target is reached, the company will be worth $93.24 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 0.51% or $0.05 during the last trading session, reaching $8.77. About 407,599 shares traded. SSR Mining Inc. (NASDAQ:SSRM) has 0.00% since February 15, 2017 and is . It has underperformed by 16.70% the S&P500.

Analysts await SSR Mining Inc. (NASDAQ:SSRM) to report earnings on February, 22. They expect $0.06 EPS, down 76.92 % or $0.20 from last year’s $0.26 per share. SSRM’s profit will be $7.09 million for 36.54 P/E if the $0.06 EPS becomes a reality. After $0.04 actual EPS reported by SSR Mining Inc. for the previous quarter, Wall Street now forecasts 50.00 % EPS growth.

More recent SSR Mining Inc. (NASDAQ:SSRM) news were published by: Fool.com which released: “What to Expect From SSR Mining Inc. in 2018” on January 30, 2018. Also Fool.com published the news titled: “Why 2017 Was a Year to Forget for SSR Mining Inc” on January 24, 2018. Fool.com‘s news article titled: “Here’s Why SSR Mining, Inc. Regained Its Luster and Jumped as Much as 14%” with publication date: January 16, 2018 was also an interesting one.

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