What’s Next for Daqo New Energy Corp. (DQ) After Forming Multiple Bottom?

The stock of Daqo New Energy Corp. (DQ) shows a multiple bottoms pattern with $25.69 target or 3.00 % below today’s $26.48 share price. The 6 months chart pattern indicates high risk for the $340.63 million company. It was reported on Jan, 12 by Finviz.com. If the $25.69 price target is reached, the company will be worth $10.22M less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 1.41% or $0.38 during the last trading session, reaching $26.48. About 87,286 shares traded. Daqo New Energy Corp. (NYSE:DQ) has declined 45.96% since January 12, 2018 and is downtrending. It has underperformed by 45.96% the S&P500.

Analysts await Daqo New Energy Corp. (NYSE:DQ) to report earnings on February, 27. They expect $0.12 EPS, down 96.03 % or $2.90 from last year’s $3.02 per share. DQ’s profit will be $1.54M for 55.17 P/E if the $0.12 EPS becomes a reality. After $0.31 actual EPS reported by Daqo New Energy Corp. for the previous quarter, Wall Street now forecasts -61.29 % negative EPS growth.

Daqo New Energy Corp., together with its subsidiaries, makes and sells polysilicon and wafers in the PeopleÂ’s Republic of China. The company has market cap of $340.63 million. It operates through two divisions, Polysilicon and Wafers. It has a 5.49 P/E ratio. The firm offers polysilicon to photovoltaic product manufacturers who further process its polysilicon into ingots, wafers, cells, and modules for solar power solutions.

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