Is Major Move Coming For Tronox Limited (TROX) After This Descending Triangle Chart Pattern?

June 17, 2018 - By Maria Brooks

Tronox Limited (NYSE:TROX) Logo

Investors sentiment decreased to 0.94 in Q1 2018. Its down 1.12, from 2.06 in 2017Q4. It dropped, as 37 investors sold Tronox Limited shares while 47 reduced holdings. 30 funds opened positions while 49 raised stakes. 80.97 million shares or 0.44% less from 81.33 million shares in 2017Q4 were reported.
Fincl Bank Of America De, a North Carolina-based fund reported 317,395 shares. Art Advisors Ltd Liability Corporation invested 0.12% in Tronox Limited (NYSE:TROX). Royal Bankshares Of Canada holds 251 shares or 0% of its portfolio. Geode Cap Mngmt Limited Co holds 0.01% or 1.08M shares. Zurcher Kantonalbank (Zurich Cantonalbank) owns 0% invested in Tronox Limited (NYSE:TROX) for 5,891 shares. State Street invested in 0% or 1.73M shares. Eagle Boston Invest holds 0.09% or 51,700 shares in its portfolio. 101,600 were accumulated by Nokota Management L P. C M Bidwell And Ltd holds 0.05% of its portfolio in Tronox Limited (NYSE:TROX) for 3,270 shares. Nomura holds 0% or 145,000 shares in its portfolio. Teacher Retirement System Of Texas holds 0% or 20,193 shares in its portfolio. Jpmorgan Chase And has invested 0% in Tronox Limited (NYSE:TROX). Gotham Asset Ltd Company holds 0.11% of its portfolio in Tronox Limited (NYSE:TROX) for 435,080 shares. Rhumbline Advisers reported 88,793 shares or 0% of all its holdings. 731 were accumulated by Tower Rech Capital (Trc).

The stock of Tronox Limited (TROX) formed a descending triangle with $21.14 target or 5.00 % above today’s $20.13 share price. The 8 months triangle pattern indicates low risk for the $2.47B company. If the $21.14 price target is reached, the company will be worth $123.30 million more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock increased 3.18% or $0.62 during the last trading session, reaching $20.13. About 1.81M shares traded or 72.31% up from the average. Tronox Limited (NYSE:TROX) has risen 10.27% since June 17, 2017 and is uptrending. It has underperformed by 2.30% the S&P500.

Analysts await Tronox Limited (NYSE:TROX) to report earnings on August, 14. They expect $0.22 earnings per share, up 144.44 % or $0.13 from last year’s $0.09 per share. TROX’s profit will be $26.95 million for 22.88 P/E if the $0.22 EPS becomes a reality. After $0.01 actual earnings per share reported by Tronox Limited for the previous quarter, Wall Street now forecasts 2,100.00 % EPS growth.

Tronox Limited (NYSE:TROX) Ratings Coverage

Among 7 analysts covering Tronox (NYSE:TROX), 5 have Buy rating, 1 Sell and 1 Hold. Therefore 71% are positive. Tronox has $35.0 highest and $18 lowest target. $24.86’s average target is 23.50% above currents $20.13 stock price. Tronox had 7 analyst reports since January 25, 2018 according to SRatingsIntel. The stock of Tronox Limited (NYSE:TROX) earned “Buy” rating by BMO Capital Markets on Tuesday, March 27. JP Morgan maintained Tronox Limited (NYSE:TROX) on Thursday, January 25 with “Overweight” rating. The stock of Tronox Limited (NYSE:TROX) earned “Sell” rating by UBS on Friday, March 2. The firm has “Overweight” rating given on Monday, March 12 by Barclays Capital. Alembic maintained Tronox Limited (NYSE:TROX) on Thursday, March 1 with “Buy” rating. The company was initiated on Wednesday, February 7 by Wells Fargo.

Tronox Limited produces and markets titanium bearing mineral sands and titanium dioxide pigment in North America, Europe, South Africa, and the Asia-Pacific region. The company has market cap of $2.47 billion. It primarily operates in two divisions, TiO2 and Alkali. It currently has negative earnings. The TiO2 segment engages in the exploration, mining, and beneficiation of mineral sands deposits.

Tronox Limited (NYSE:TROX) Ratings Chart

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