Traders Are Bearish Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria (CRESY) After The Stock Formed Bearish Wedge Down Pattern

Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria (NASDAQ:CRESY) Logo

The stock of Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria (CRESY) formed a down wedge with $11.12 target or 4.00 % below today’s $11.58 share price. The 9 months wedge indicates high risk for the $583.28 million company. If the $11.12 price target is reached, the company will be worth $23.33 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 decreased 1.28% or $0.15 during the last trading session, reaching $11.58. About 88,643 shares traded. Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria (NASDAQ:CRESY) has declined 40.14% since December 20, 2017 and is downtrending. It has underperformed by 40.14% the S&P500.

More notable recent Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria (NASDAQ:CRESY) news were published by: Seekingalpha.com which released: “SLC Agricola Closer To Dirt Cheap – Seeking Alpha” on January 29, 2016, also Seekingalpha.com with their article: “Cresud Sum Of Parts Analysis (Video) – Seeking Alpha” published on July 24, 2018, Seekingalpha.com published: “Morgan Stanley upgrades EM currencies as U.S. stock stay strong – Seeking Alpha” on September 24, 2018. More interesting news about Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria (NASDAQ:CRESY) were released by: Benzinga.com and their article: “Cresud S.A.C.I.F. y A. (NASDAQ:CRESY), Adecoagro S.A. (NYSE:AGRO) – Shiller Says Investors Should Buy Farmland – Benzinga” published on February 12, 2013 as well as Seekingalpha.com‘s news article titled: “Cresud S.A.C.I.F. y A. 2019 Q1 – Results – Earnings Call Slides – Seeking Alpha” with publication date: November 13, 2018.

Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria, an agricultural company, produces basic agricultural commodities in Brazil and other Latin American countries. The company has market cap of $583.28 million. The companyÂ’s Agricultural business is involved in planting, harvesting, and sale of crops, such as wheat, corn, soybean, cotton, and sunflower, as well as sugarcane; breeding, purchasing, and fattening of beef cattle for sale to meat processors and local livestock auction markets; producing raw milk for sale to local milk and milk-related products producers; leasing of farms to third parties; disposal and development of farmlands activities; and feedlot farming, as well as meat slaughtering and processing activities. It has a 2.14 P/E ratio. The Company’s Investment and Development Properties business engages in the commercial exploitation, development, and lease of commercial facilities and other spaces in shopping centers; lease and servicing of office spaces other rental properties; development, sale, and maintenance of undeveloped parcels of land and/or trading properties; operation of hotels; and provision of consumer financing services.

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