What’s Industrea Acquisition Corp. (INDU) Upside After Forming Wedge Up Pattern?

July 14, 2018 - By Sheila Pollock

The stock of Industrea Acquisition Corp. (INDU) formed an up wedge with $26020.19 target or 4.00 % above today’s $25019.41 share price. The 5 months wedge indicates low risk for the $173.07 billion company. If the $26020.19 price target is reached, the company will be worth $6.92B 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 0.38% or $94.52 during the last trading session, reaching $25019.41. About 255.52 million shares traded or 940781.74% up from the average. Industrea Acquisition Corp. (NASDAQ:INDU) has 0.00% since July 14, 2017 and is . It has underperformed by 12.57% the S&P500.

Industrea Acquisition Corp. does not have significant operations. The company has market cap of $173.07 billion. It intends to identify, source, negotiate, and execute an initial business combination with the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It currently has negative earnings.

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