Avista Healthcare Public Acquisition Corp. (AHPA) Stock Faces Higher Risks Forward After Forming Bearish Ascending Triangle Chart Pattern

July 13, 2018 - By Theresa Judd

The stock of Avista Healthcare Public Acquisition Corp. (AHPA) formed an ascending triangle with $9.25 target or 8.00 % below today’s $10.05 share price. The 7 months triangle pattern indicates high risk for the $98.40M company. If the $9.25 price target is reached, the company will be worth $7.87 million less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

The stock decreased 0.20% or $0.02 during the last trading session, reaching $10.05. About 15,801 shares traded. Avista Healthcare Public Acquisition Corp. (NASDAQ:AHPA) has 0.00% since July 13, 2017 and is . It has underperformed by 12.57% the S&P500.

Avista Healthcare Public Acquisition Corp. does not have significant operations. The company has market cap of $98.40 million. It intends to effect a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses in the healthcare industry. It currently has negative earnings. The firm was founded in 2015 and is based in New York, New York.

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