Could KB Financial Group Inc. (KB) Go Down? The Stock Formed Wedge Down Pattern

July 13, 2018 - By Nellie Rakes

The stock of KB Financial Group Inc. (KB) formed a down wedge with $47.24 target or 3.00 % below today’s $48.70 share price. The 9 months wedge indicates high risk for the $20.40 billion company. If the $47.24 price target is reached, the company will be worth $612.12 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 increased 2.79% or $1.32 during the last trading session, reaching $48.7. About 378,616 shares traded or 146.53% up from the average. KB Financial Group Inc. (NYSE:KB) has risen 6.79% since July 13, 2017 and is uptrending. It has underperformed by 5.78% the S&P500.

KB Financial Group Inc., a financial holding company, provides various banking and related financial services to individuals and firms in South Korea and internationally. The company has market cap of $20.40 billion. It operates through six divisions: Retail Banking Operations, Corporate Banking Operations, Other Banking Operations, Credit Card Operations, Investment and Securities Operations, and Life Insurance Operations. It has a 6.42 P/E ratio. The firm offers deposit products, including demand deposits, time deposits, savings deposits, certificates of deposit, foreign currency deposits; and loans, such as mortgages and home equity, other consumer loans, working capital and facilities loans, as well as credit cards.

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