What’s Ocean Bio-Chem, Inc. (OBCI) Downside After Forming Bearish Wedge Down Pattern?

February 15, 2018 - By Linda Rogers

Investors sentiment increased to 4 in 2017 Q3. Its up 1.00, from 3 in 2017Q2. It improved, 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.
Panagora Asset Incorporated holds 0% or 10,883 shares in its portfolio. 21,500 were accumulated by Deutsche Bank & Trust Ag. Blackrock owns 0% invested in Ocean Bio-Chem, Inc. (NASDAQ:OBCI) for 12,459 shares. The New York-based Morgan Stanley has invested 0% in Ocean Bio-Chem, Inc. (NASDAQ:OBCI). Dimensional Fund Advsr L P accumulated 18,557 shares or 0% of the stock. Renaissance Tech Ltd Liability Com has 47,700 shares for 0% of their portfolio. James Investment Rech holds 0% or 13,750 shares in its portfolio. California Employees Retirement Sys reported 31,895 shares. 87,441 are held by Essex Invest Mgmt Co Lc. Vanguard Gru has 26,811 shares. The Massachusetts-based Geode Cap Management Lc has invested 0% in Ocean Bio-Chem, Inc. (NASDAQ:OBCI).

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

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