Could Medigus Ltd. (MDGS) Increase Even More? The Stock Formed Descending Triangle Chart Pattern

July 13, 2018 - By Mark Mitchell

The stock of Medigus Ltd. (MDGS) formed a descending triangle with $1.33 target or 5.00 % above today’s $1.27 share price. The 6 months triangle pattern indicates low risk for the $4.99 million company. If the $1.33 price target is reached, the company will be worth $249,250 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 increased 5.83% or $0.07 during the last trading session, reaching $1.27. About 303,312 shares traded. Medigus Ltd. (NASDAQ:MDGS) has declined 42.29% since July 13, 2017 and is downtrending. It has underperformed by 54.86% the S&P500.

More notable recent Medigus Ltd. (NASDAQ:MDGS) news were published by: Benzinga.com which released: “48 Biggest Movers From Yesterday” on June 29, 2018, also Benzinga.com with their article: “38 Stocks Moving In Wednesday’s Mid-Day Session” published on July 11, 2018, Nasdaq.com published: “Medigus Enters Orthopedic Market with New Development and Manufacturing Agreement for Integrated Visualization …” on June 26, 2018. More interesting news about Medigus Ltd. (NASDAQ:MDGS) were released by: Benzinga.com and their article: “Benzinga Pro’s 5 Stocks To Watch Today” published on June 27, 2018 as well as Benzinga.com‘s news article titled: “40 Stocks Moving In Thursday’s Mid-Day Session” with publication date: June 28, 2018.

Medigus Ltd., a medical device company, develops, makes, and markets surgical endostaplers and direct vision systems for minimally invasive medical procedures in the United States, Europe, Asia, and internationally. The company has market cap of $4.99 million. It offers MUSE, an ultrasonic surgical endostapler system for the treatment of gastroesophageal reflux disease; and miniaturized video cameras for use in various medical procedures, as well as specialized industrial applications. It currently has negative earnings.

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