Is Selling Stock Like The Descartes Systems Group Inc (DSGX) After This Head & Shoulders Chart Pattern Winning Strategy?

January 11, 2018 - By Darrin Black

The stock of The Descartes Systems Group Inc (DSGX) formed H&S with $26.24 target or 6.00 % below today’s $27.92 share price. The 9 months Head & Shoulders indicates high risk for the $2.11B company. It was reported on Jan, 11 by Faxor.com. If the $26.24 price target is reached, the company will be worth $126.72M less.
Head-and-shoulders are one of the best chart patterns to trade. They work in bear and bull markets and according to many researchers have very low failure rate. Even thought they have high pullback rate, such patters usually provide good risk-reward entry opportunities. The percentage of stocks meeting price targets is 55%.

The stock decreased 0.45% or $0.12 during the last trading session, reaching $27.92. About 52,268 shares traded. The Descartes Systems Group Inc (NASDAQ:DSGX) has risen 29.29% since January 11, 2017 and is uptrending. It has outperformed by 12.59% the S&P500.

Analysts await The Descartes Systems Group Inc (NASDAQ:DSGX) to report earnings on March, 14. They expect $0.10 EPS, up 25.00 % or $0.02 from last year’s $0.08 per share. DSGX’s profit will be $7.56M for 69.80 P/E if the $0.10 EPS becomes a reality. After $0.08 actual EPS reported by The Descartes Systems Group Inc for the previous quarter, Wall Street now forecasts 25.00 % EPS growth.

The Descartes Systems Group Inc (NASDAQ:DSGX) Ratings Coverage

Among 10 analysts covering Descartes Systems Group (NASDAQ:DSGX), 6 have Buy rating, 0 Sell and 4 Hold. Therefore 60% are positive. Descartes Systems Group has $33.0 highest and $17.50 lowest target. $26.72’s average target is -4.30% below currents $27.92 stock price. Descartes Systems Group had 35 analyst reports since July 21, 2015 according to SRatingsIntel. The firm earned “Overweight” rating on Friday, September 9 by Barclays Capital. The company was maintained on Thursday, August 31 by RBC Capital Markets. BMO Capital Markets maintained The Descartes Systems Group Inc (NASDAQ:DSGX) on Wednesday, November 29 with “Hold” rating. BMO Capital Markets maintained The Descartes Systems Group Inc (NASDAQ:DSGX) on Thursday, September 7 with “Market Perform” rating. RBC Capital Markets maintained it with “Outperform” rating and $21 target in Friday, September 11 report. BMO Capital Markets maintained The Descartes Systems Group Inc (NASDAQ:DSGX) on Tuesday, August 15 with “Hold” rating. The stock has “Buy” rating by Barclays Capital on Thursday, November 30. On Wednesday, October 19 the stock rating was upgraded by IBC to “Sector Outperform”. The firm has “Overweight” rating by Barclays Capital given on Friday, May 27. Canaccord Genuity maintained it with “Buy” rating and $30 target in Thursday, September 7 report.

More recent The Descartes Systems Group Inc (NASDAQ:DSGX) news were published by: Seekingalpha.com which released: “Descartes Systems Group Acquires MacroPoint For Transportation Network” on August 15, 2017. Also Globenewswire.com published the news titled: “Descartes Sets Date to Announce Second Quarter Fiscal 2018 Financial Results” on August 03, 2017. Seekingalpha.com‘s news article titled: “The Descartes Systems Group’s (DSGX) CEO Ed Ryan on Q3 2018 Results – Earnings …” with publication date: November 30, 2017 was also an interesting one.

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