The stock of Optical Cable Corporation (OCC) formed a down wedge with $2.63 target or 11.00% below today’s $2.95 share price. The 8 months wedge indicates high risk for the $20.87 million company. If the $2.63 price target is reached, the company will be worth $2.30 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 closed at $2.95 during the last session. It is up 26.80% since May 8, 2015 and is downtrending. It has underperformed by 23.78% the S&P500.
Analysts await Optical Cable Corporation (NASDAQ:OCC) to reports earnings on December, 17.
According to Zacks Investment Research, “Optical Cable Corporation is a leading manufacturer of fiber optic cables primarily sold into the enterprise market, and the premier manufacturer of military ground tactical fiber optic cable for the U.S. military. Optical Cable Corporation pioneered the design and production of fiber optic cables for the most demanding military field applications, as well as fiber optic cables suitable for both indoor and outdoor use. The Company’s current broad product offering is built on the evolution of these fundamental technologies, and is designed to provide end-users with fiber optic cables that are easy and economical to install, provide a high degree of reliability and offer outstanding performance characteristics. Optical Cable Corporation sells its products worldwide for uses ranging from commercial and campus installations to customized products for specialty applications and harsh environments, including military applications.” Get a free copy of the Zacks research report on Optical Cable Corporation (OCC).
More important recent Optical Cable Corporation (NASDAQ:OCC) news were published by: Prnewswire.com which released: “Optical Cable Corporation Reports Third Quarter 2015 Financial Results” on September 11, 2015, also Prnewswire.com published article titled: “Optical Cable Corporation Reports Second Quarter 2015 Financial Results”, Seekingalpha.com published: “Optical Cable Corporation’s (OCC) CEO Neil Wilkin on Q4 2014 Results …” on December 18, 2014. More interesting news about Optical Cable Corporation (NASDAQ:OCC) was released by: Seekingalpha.com and their article: “Optical Cable Corporation’s (OCC) CEO Neil Wilkin on Q1 2015 Results …” with publication date: March 10, 2015.
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