Is Alberton Acquisition Corporation (ALACU)’s Fuel Running High? The Stock Formed Bullish Wedge Up

The stock of Alberton Acquisition Corporation (ALACU) formed an up wedge with $10.98 target or 7.00 % above today’s $10.26 share price. The 6 months wedge indicates low risk for the $40.91 million company. If the $10.98 price target is reached, the company will be worth $2.86M 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%.

It closed at $10.26 lastly. It is down 0.00% since May 8, 2018 and is . It has underperformed by 4.37% the S&P500.

More notable recent Alberton Acquisition Corporation (NASDAQ:ALACU) news were published by: Globenewswire.com which released: “Potential Equestrian Farm for Sale on GovDeals.com – GlobeNewswire” on November 19, 2018, also Globenewswire.com with their article: “AxoGen, Inc. Reports 2017 Fourth Quarter and Full Year Financial Results – GlobeNewswire” published on February 28, 2018, Seekingalpha.com published: “AxoGen, Inc. (AXGN) CEO Karen Zaderej on Q4 2018 Results – Earnings Call Transcript – Seeking Alpha” on February 26, 2019. More interesting news about Alberton Acquisition Corporation (NASDAQ:ALACU) were released by: Globenewswire.com and their article: “RTI Surgical® Schedules Fourth Quarter and Full Year 2018 Earnings Call for February 28, 2019 – GlobeNewswire” published on February 14, 2019 as well as Globenewswire.com‘s news article titled: “Axogen, Inc. to Participate at Upcoming March Investor Conferences – GlobeNewswire” with publication date: March 04, 2019.

Alberton Acquisition Corporation engages in acquisition, share exchange, share reconstruction, amalgamation, and other similar business combination with one or more businesses or entities. The company has market cap of $40.91 million. The firm was formerly known as Wisdom Resources Group Limited and changed its name to Alberton Acquisition Corporation in July 2018. It has a 446.09 P/E ratio.

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