What Next for Novus Therapeutics, Inc. (NVUS) After Forming Bearish Multiple Bottom Pattern?

January 8, 2018 - By Nellie Frank

The stock of Novus Therapeutics, Inc. (NVUS) shows a multiple bottoms pattern with $4.04 target or 7.00 % below today’s $4.34 share price. The 6 months chart pattern indicates high risk for the $30.75 million company. It was reported on Jan, 8 by Finviz.com. If the $4.04 price target is reached, the company will be worth $2.15M 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 increased 4.08% or $0.17 during the last trading session, reaching $4.34. About 4,255 shares traded. Novus Therapeutics, Inc. (NASDAQ:NVUS) has 0.00% since January 8, 2017 and is . It has underperformed by 16.70% the S&P500.

More important recent Novus Therapeutics, Inc. (NASDAQ:NVUS) news were published by: Prnewswire.com which released: “Novus Therapeutics Announces the Promotion of Dr. Catherine Turkel to President” on November 06, 2017, also Prnewswire.com published article titled: “Novus Therapeutics Announces Change in Management”, Marketwatch.com published: “Novus Therapeutics Inc.” on May 12, 2017. More interesting news about Novus Therapeutics, Inc. (NASDAQ:NVUS) was released by: Prnewswire.com and their article: “Otic Pharma Completes Merger with Tokai Pharmaceuticals” with publication date: May 10, 2017.

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