Does This Provide a Reason to Sell Arco Platform Limited (ARCE)? The Stock Has Formed Multiple Bottom

The stock of Arco Platform Limited (ARCE) shows a multiple bottoms pattern with $19.91 target or 6.00 % below today’s $21.18 share price. The 8 months chart pattern indicates high risk for the $1.07B company. It was reported on Dec, 18 by Finviz.com. If the $19.91 price target is reached, the company will be worth $63.90M 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 1.19% or $0.25 during the last trading session, reaching $21.18. About 14,713 shares traded. Arco Platform Limited (NASDAQ:ARCE) has 0.00% since December 18, 2017 and is . It has by 0.00% the S&P500.

More notable recent Arco Platform Limited (NASDAQ:ARCE) news were published by: Globenewswire.com which released: “Bendable Concrete? – GlobeNewswire” on December 03, 2018, also Nasdaq.com with their article: “Arco Platform Limited Announces Pricing of its Initial Public Offering on the Nasdaq Global Select Market – Nasdaq” published on September 25, 2018, Fortune.com published: “Term Sheet — Friday, September 14 – Fortune” on September 14, 2018. More interesting news about Arco Platform Limited (NASDAQ:ARCE) were released by: 247Wallst.com and their article: “IPO News This Week: 6 Firms to Test the Market – 24/7 Wall St.” published on September 30, 2018 as well as Benzinga.com‘s news article titled: “Week Ahead: Can Tech Earnings Restore The Rally? Amazon, Google To Report – Benzinga” with publication date: October 22, 2018.

Arco Platform Limited, a technology firm in the education sector, provides a pedagogical system with technology-enabled features to deliver educational content to private schools in Brazil. The company has market cap of $1.07 billion. The company's curriculum solutions provide educational content from basic to secondary education K-12 curriculum in printed and digital formats delivered through its platform. It has a 415.29 P/E ratio. As of March 31, 2018, it had a network consisted of 1,140 partner schools and 405,814 enrolled students.

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