Does IKONICS Corporation (IKNX) Have Any Gas After Forming This Bullish Wedge Up?

September 16, 2018 - By Darrel Chase

IKONICS Corporation (NASDAQ:IKNX) Logo

Investors sentiment decreased to 1 in 2018 Q2. Its down 2.00, from 3 in 2018Q1. It turned negative, as 0 investors sold IKONICS Corporation shares while 3 reduced holdings. 2 funds opened positions while 1 raised stakes. 37,574 shares or 25.47% more from 29,946 shares in 2018Q1 were reported.
Us Natl Bank De holds 3,000 shares or 0% of its portfolio. Blackrock reported 0% of its portfolio in IKONICS Corporation (NASDAQ:IKNX). Vanguard Group Inc Inc has invested 0% in IKONICS Corporation (NASDAQ:IKNX). Royal Fincl Bank Of Canada has 1,300 shares for 0% of their portfolio. Susquehanna International Grp Llp accumulated 19,531 shares or 0% of the stock. Deutsche Financial Bank Ag reported 1,400 shares stake. Morgan Stanley owns 1,501 shares or 0% of their US portfolio. Tower Rech Capital Ltd Liability Corp (Trc), New York-based fund reported 16 shares.

Since May 1, 2018, it had 1 buying transaction, and 0 insider sales for $20,624 activity.

The stock of IKONICS Corporation (IKNX) formed an up wedge with $11.45 target or 9.00 % above today’s $10.50 share price. The 8 months wedge indicates low risk for the $20.83 million company. If the $11.45 price target is reached, the company will be worth $1.87 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 2.44% or $0.25 during the last trading session, reaching $10.5. About 307 shares traded. IKONICS Corporation (NASDAQ:IKNX) has risen 11.37% since September 16, 2017 and is uptrending. It has underperformed by 4.25% the S&P500.

IKONICS Corporation develops, manufactures, and sells photosensitive liquids and films for the screen printing, and awards and recognition industries primarily in the United States. The company has market cap of $20.83 million. It operates through five divisions: Domestic, Export, IKONICS Imaging, Digital Texturing Technology, and Advanced Material Solutions. It has a 76.64 P/E ratio. The firm sells screen printing films, emulsions, and inkjet receptive films to distributors; and photo resistant films, art supplies, glass, metal medium, and related abrasive etching equipment to end user customers.

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