Does This Provide a Reason to Sell Blackstone / GSO Long-Short Credit Income Fund (BGX)? The Stock Has Formed Bearish H&S

September 16, 2018 - By Eula Gilbert

The stock of Blackstone / GSO Long-Short Credit Income Fund (BGX) formed H&S with $15.04 target or 9.00 % below today’s $16.53 share price. The 6 months Head & Shoulders indicates high risk for the $ company. It was reported on Sep, 16 by Faxor.com. If the $15.04 price target is reached, the company will be worth $ less.
Head-and-shoulders are one of the best chart patterns to trade. They work in bear and bull markets and according to many researchers have very low failure rate. Even thought they have high pullback rate, such patters usually provide good risk-reward entry opportunities. The percentage of stocks meeting price targets is 55%.

The stock decreased 0.18% or $0.03 during the last trading session, reaching $16.53. It is down 4.20% since September 16, 2017 and is uptrending. It has underperformed by 11.42% the S&P500.

Blackstone / GSO Long-Short Credit Income Fund is a close-ended fixed income mutual fund launched by The Blackstone Group LP. The company has market cap of $. The fund is managed by GSO / Blackstone Debt Funds Management LLC. It currently has negative earnings. It takes both long and short positions to invest in the fixed income markets of the United States.

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