What’s Propelling Arconic Inc. (ARNC) to Decrease? The Stock Formed a Double Bottom Pattern

August 10, 2018 - By Richard Doty

The chart of Arconic Inc. (ARNC) shows a double bottom with $18.73 target or 9.00 % below today’s $20.58 share price. The 9 months chart pattern indicates high risk for the $9.94B company. It was reported on Aug, 10 by Finviz.com. If the $18.73 price target is reached, the company will be worth $894.51M less. Double bottoms are rare but powerful chart patterns.

The stock decreased 0.91% or $0.19 during the last trading session, reaching $20.58. About 65,836 shares traded. Arconic Inc. (NYSE:ARNC) has declined 32.27% since August 10, 2017 and is downtrending. It has underperformed by 44.84% the S&P500.

Analysts await Arconic Inc. (NYSE:ARNC) to report earnings on October, 22. They expect $0.28 earnings per share, up 12.00 % or $0.03 from last year’s $0.25 per share. ARNC’s profit will be $135.22M for 18.38 P/E if the $0.28 EPS becomes a reality. After $0.37 actual earnings per share reported by Arconic Inc. for the previous quarter, Wall Street now forecasts -24.32 % negative EPS growth.

More notable recent Arconic Inc. (NYSE:ARNC) news were published by: Seekingalpha.com which released: “Arconic signs largest multiyear supply deal with Boeing” on July 16, 2018, also Seekingalpha.com with their article: “Arconic +3% as Q2 earnings, revenues beat estimates” published on July 31, 2018, Fool.com published: “Arconic Details Restructuring Efforts as Buyout Talk Swirls” on August 08, 2018. More interesting news about Arconic Inc. (NYSE:ARNC) were released by: Fool.com and their article: “Here’s Why Arconic Rose Over 11% Today” published on July 26, 2018 as well as Seekingalpha.com‘s news article titled: “My Thoughts On Arconic’s Downtrend” with publication date: July 12, 2018.

Arconic Inc. engineers, manufactures, and sells lightweight metals of aluminum, titanium, and nickel worldwide. The company has market cap of $9.94 billion. It operates through three divisions: Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. It currently has negative earnings. The Global Rolled Products segment produces and sells aluminum sheets and plates; and aseptic foils.

Arconic Inc. (NYSE:ARNC) Ratings Chart

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