Can International Seaways, Inc. (INSW)’s Tomorrow be Different? The Stock Formed a Bearish Wedge Down Pattern

March 7, 2018 - By Linda Rogers

The stock of International Seaways, Inc. (INSW) formed a down wedge with $16.75 target or 4.00 % below today’s $17.45 share price. The 6 months wedge indicates high risk for the $507.62 million company. If the $16.75 price target is reached, the company will be worth $20.30 million 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 0.46% or $0.08 during the last trading session, reaching $17.45. About 158,110 shares traded. International Seaways, Inc. (NYSE:INSW) has 0.00% since March 7, 2017 and is . It has underperformed by 16.70% the S&P500.

Analysts await International Seaways, Inc. (NYSE:INSW) to report earnings on April, 4. They expect $-0.31 earnings per share, down 214.81 % or $0.58 from last year’s $0.27 per share. After $-0.46 actual earnings per share reported by International Seaways, Inc. for the previous quarter, Wall Street now forecasts -32.61 % EPS growth.

More news for International Seaways, Inc. (NYSE:INSW) were recently published by: Moodys.com, which released: “Moody’s changes International Seaways’ outlook to negative, affirms ratings …” on December 22, 2017. Businesswire.com‘s article titled: “International Seaways Reports Second Quarter 2017 Results” and published on August 09, 2017 is yet another important article.

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