Could China Jo-Jo Drugstores, Inc. (CJJD) Recover After Forming a Bullish Wedge Up Pattern?

July 14, 2018 - By Kyle Williams

China Jo-Jo Drugstores, Inc. (NASDAQ:CJJD) Logo

Investors sentiment decreased to 0.75 in Q1 2018. Its down Infinity, from Infinity in 2017Q4. It worsened, as 4 investors sold China Jo-Jo Drugstores, Inc. shares while 0 reduced holdings. 2 funds opened positions while 1 raised stakes. 203,352 shares or 56.78% less from 470,512 shares in 2017Q4 were reported.
Susquehanna International Group Inc Ltd Liability Partnership reported 40,472 shares. 150,300 were reported by Renaissance Techs Llc. Sabal Trust holds 0% or 12,400 shares.

The stock of China Jo-Jo Drugstores, Inc. (CJJD) formed an up wedge with $1.40 target or 5.00 % above today’s $1.33 share price. The 8 months wedge indicates low risk for the $38.79 million company. If the $1.40 price target is reached, the company will be worth $1.94M 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 decreased 1.48% or $0.02 during the last trading session, reaching $1.33. About 6,852 shares traded. China Jo-Jo Drugstores, Inc. (NASDAQ:CJJD) has declined 17.63% since July 14, 2017 and is downtrending. It has underperformed by 30.20% the S&P500.

China Jo-Jo Drugstores, Inc., together with its subsidiaries, operates as a retailer and distributor of pharmaceutical and other healthcare products in the PeopleÂ’s Republic of China. The company has market cap of $38.79 million. The firm operates through four divisions: Retail Drugstores, Online Pharmacy, Drug Wholesale, and Herb Farming. It currently has negative earnings. The Company’s stores provide various pharmaceutical products, including prescription and over-the-counter drugs, nutritional supplements, traditional Chinese medicines , personal and family care products, and medical devices, as well as convenience products, such as consumable, seasonal, and promotional items.

China Jo-Jo Drugstores, Inc. (NASDAQ:CJJD) Institutional Positions Chart

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