What’s Propelling Ocean Bio-Chem, Inc. (OBCI) to Decrease? The Stock Formed a Bearish Wedge Down Chart Pattern

February 15, 2018 - By Marie Mckinney

Investors sentiment increased to 4 in Q3 2017. Its up 1.00, from 3 in 2017Q2. It increased, as 0 investors sold Ocean Bio-Chem, Inc. shares while 2 reduced holdings. 0 funds opened positions while 8 raised stakes. 654,064 shares or 193.12% more from 223,136 shares in 2017Q2 were reported.
Essex Investment Mngmt Ltd Liability Corporation accumulated 0.06% or 87,441 shares. Geode Mgmt Ltd Liability Co owns 26,292 shares. James Invest Rech holds 0% or 13,750 shares in its portfolio. Vanguard Group Inc Inc has 26,811 shares. Blackrock owns 12,459 shares for 0% of their portfolio. Panagora Asset Incorporated stated it has 10,883 shares. Renaissance Technology Limited Liability Co accumulated 47,700 shares. Dimensional Fund Advsrs Limited Partnership holds 0% or 18,557 shares. California Employees Retirement Sys invested in 0% or 31,895 shares. Deutsche Bank & Trust Ag has 21,500 shares for 0% of their portfolio. Morgan Stanley holds 0% or 370 shares in its portfolio.

The stock of Ocean Bio-Chem, Inc. (OBCI) formed a down wedge with $3.77 target or 6.00 % below today’s $4.01 share price. The 6 months wedge indicates high risk for the $37.06M company. If the $3.77 price target is reached, the company will be worth $2.22M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 2.13% or $0.0836 during the last trading session, reaching $4.0136. About 101 shares traded. Ocean Bio-Chem, Inc. (NASDAQ:OBCI) has risen 96.36% since February 15, 2017 and is uptrending. It has outperformed by 79.66% the S&P500.

More notable recent Ocean Bio-Chem, Inc. (NASDAQ:OBCI) news were published by: Thestreet.com which released: “Ocean Bio-Chem (OBCI) Stock Surges After Q2 Earnings” on August 15, 2016, also Streetinsider.com with their article: “Form 8-K OCEAN BIO CHEM INC For: Jan 17” published on January 18, 2018, Quotes.Wsj.com published: “Ocean Bio-Chem Inc. OBCI (US: Nasdaq)” on February 12, 2011. More interesting news about Ocean Bio-Chem, Inc. (NASDAQ:OBCI) were released by: Prnewswire.com and their article: “Ocean Bio-Chem, Inc. Reports Third Quarter and Nine Month Financial Results” published on November 14, 2017 as well as Prnewswire.com‘s news article titled: “Ocean Bio-Chem, Inc. Reports Record 2017 & Fourth Quarter 2017 Net Sales and …” with publication date: January 17, 2018.

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