Trecora Resources (TREC)’s Stock Formed A Several Months Bearish Ascending Triangle

July 13, 2018 - By Patrick Harkless

The stock of Trecora Resources (TREC) formed an ascending triangle with $13.53 target or 7.00 % below today’s $14.55 share price. The 5 months triangle pattern indicates high risk for the $353.89M company. If the $13.53 price target is reached, the company will be worth $24.77 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 4.90% or $0.75 during the last trading session, reaching $14.55. About 27,632 shares traded. Trecora Resources (NYSE:TREC) has risen 25.00% since July 13, 2017 and is uptrending. It has outperformed by 12.43% the S&P500.

Analysts await Trecora Resources (NYSE:TREC) to report earnings on August, 2. They expect $0.15 EPS, up 400.00 % or $0.12 from last year’s $0.03 per share. TREC’s profit will be $3.65M for 24.25 P/E if the $0.15 EPS becomes a reality. After $0.08 actual EPS reported by Trecora Resources for the previous quarter, Wall Street now forecasts 87.50 % EPS growth.

More news for Trecora Resources (NYSE:TREC) were recently published by: Prnewswire.com, which released: “Trecora Resources Announces Appointment of Michael Humby as Executive Vice President, Commercial” on July 10, 2018. Prnewswire.com‘s article titled: “Trecora Resources Announces Commissioning of Advanced Reformer Unit” and published on July 09, 2018 is yet another important article.

Trecora Resources primarily manufactures and sells various specialty hydrocarbons and synthetic waxes in the United States. The company has market cap of $353.89 million. The firm operates two divisions, Petrochemical and Specialty Waxes. It has a 19.43 P/E ratio. The Petrochemical segment offers hydrocarbons and other petroleum based products, such as isopentane, normal pentane, isohexane, and hexane used in the production of polyethylene, packaging, polypropylene, expandable polystyrene, poly-iso/urethane foams, and crude oil from the Canadian tar sands, as well as in the catalyst support industry.

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