Could The Cato Corporation (CATO) Recover After Forming a Multiple Bottom Chart Pattern?

January 8, 2018 - By Marguerite Chambers

Investors sentiment decreased to 1.16 in Q3 2017. Its down 0.24, from 1.4 in 2017Q2. It turned negative, as 14 investors sold The Cato Corporation shares while 44 reduced holdings. 25 funds opened positions while 42 raised stakes. 19.76 million shares or 4.48% less from 20.68 million shares in 2017Q2 were reported.
Aqr Capital Mngmt Ltd Llc invested in 48,039 shares. State Common Retirement Fund owns 26,300 shares. Meeder Asset Mgmt Inc holds 952 shares or 0% of its portfolio. Us Bank De owns 11,900 shares. Nationwide Fund Advisors holds 0% in The Cato Corporation (NYSE:CATO) or 21,618 shares. First Mercantile holds 0.02% or 7,737 shares. Barrow Hanley Mewhinney And Strauss Ltd Liability reported 0% stake. Pnc Fincl Gru has 267 shares for 0% of their portfolio. The Pennsylvania-based Susquehanna Gru Llp has invested 0% in The Cato Corporation (NYSE:CATO). Hsbc Public Limited Company stated it has 10,944 shares or 0% of all its holdings. Renaissance Technologies Ltd Llc, a New York-based fund reported 272,440 shares. Sei has invested 0% in The Cato Corporation (NYSE:CATO). 184,427 are held by Ameriprise Financial. 10,300 are owned by Virginia Retirement Systems Et Al. Trexquant Invest Limited Partnership holds 0.09% in The Cato Corporation (NYSE:CATO) or 26,379 shares.

The stock of The Cato Corporation (CATO) shows a multiple bottoms pattern with $11.93 target or 9.00 % below today’s $13.11 share price. The 7 months chart pattern indicates high risk for the $317.30 million company. It was reported on Jan, 8 by Finviz.com. If the $11.93 price target is reached, the company will be worth $28.56 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 1.35% or $0.18 during the last trading session, reaching $13.11. About 452,054 shares traded or 78.24% up from the average. The Cato Corporation (NYSE:CATO) has declined 41.89% since January 8, 2017 and is downtrending. It has underperformed by 58.59% the S&P500.

More notable recent The Cato Corporation (NYSE:CATO) news were published by: Streetinsider.com which released: “Cato Corp. (CATO) Reports December Same-Store Sales Fall 9%” on January 04, 2018, also Charlotteobserver.com with their article: “‘All white men’: Charlotte women’s retailer criticized over board makeup” published on May 18, 2017, Bizjournals.com published: “EXCLUSIVE: Lincoln Harris, Cato plan major mixed-use project on former Knights …” on February 09, 2017. More interesting news about The Cato Corporation (NYSE:CATO) were released by: Seekingalpha.com and their article: “Ben Graham Would Love Cato Corp. – Wouldn’t He?” published on February 09, 2017 as well as Seekingalpha.com‘s news article titled: “No, Cato Isn’t Cheap Enough” with publication date: March 20, 2017.

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