How Analysts Feel About Carolina Trust BancShares, Inc. (CART) After Forming Descending Triangle Pattern?

November 10, 2018 - By Nellie Frank

The stock of Carolina Trust BancShares, Inc. (CART) formed a descending triangle with $8.40 target or 4.00 % above today’s $8.08 share price. The 7 months triangle pattern indicates low risk for the $57.83 million company. If the $8.40 price target is reached, the company will be worth $2.31M 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 decreased 2.30% or $0.19 during the last trading session, reaching $8.08. About 410 shares traded. Carolina Trust BancShares, Inc. (NASDAQ:CART) has risen 9.31% since November 10, 2017 and is uptrending. It has underperformed by 6.31% the S&P500.

Another recent and important Carolina Trust BancShares, Inc. (NASDAQ:CART) news was published by which published an article titled: “Carolina Trust BancShares, Inc. Reports 3rd Quarter 2018 Results” on October 26, 2018.

Carolina Trust BancShares, Inc. operates as the bank holding firm for Carolina Trust Bank, a state chartered bank that provides commercial banking services and products for individuals and businesses. The company has market cap of $57.83 million. It offers non-interest bearing checking accounts, interest bearing checking and savings accounts, money market accounts, and certificates of deposit; commercial, installment, residential mortgage, home equity lines, commercial real estate, and personal loans; safe deposit boxes; and other associated services. It has a 38.66 P/E ratio. The firm serves its clients through a network of automated teller machines and nine full-service offices located in Lincolnton, Denver, Forest City, Gastonia, Hickory, Lake Lure, Mooresville, and Vale, North Carolina, as well as operates a loan production office in Salisbury, North Carolina.

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