Does This Provide a Reason to Sell Aqua Metals, Inc. (AQMS)? The Stock Has Formed Wedge Down Chart Pattern

October 11, 2018 - By Nellie Frank

Aqua Metals, Inc. (NASDAQ:AQMS) Logo

The stock of Aqua Metals, Inc. (AQMS) formed a down wedge with $2.28 target or 5.00 % below today’s $2.40 share price. The 9 months wedge indicates high risk for the $93.22M company. If the $2.28 price target is reached, the company will be worth $4.66M 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 1.89% or $0.0463 during the last trading session, reaching $2.4037. About 145,842 shares traded. Aqua Metals, Inc. (NASDAQ:AQMS) has declined 58.18% since October 11, 2017 and is downtrending. It has underperformed by 73.80% the S&P500.

Analysts await Aqua Metals, Inc. (NASDAQ:AQMS) to report earnings on November, 8. They expect $-0.23 EPS, up 25.81 % or $0.08 from last year’s $-0.31 per share. After $-0.33 actual EPS reported by Aqua Metals, Inc. for the previous quarter, Wall Street now forecasts -30.30 % EPS growth.

Aqua Metals, Inc. engages in the business of recycling lead. The company has market cap of $93.22 million. It has developed AquaRefining, a process for recycling lead acid batteries. It currently has negative earnings.

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