The stock of ATA Inc.(ADR) (ATAI) formed a descending triangle with $3.77 target or 7.00% above today’s $3.52 share price. The 6 months triangle pattern indicates low risk for the $79.70M company. If the $3.77 price target is reached, the company will be worth $5.58M more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent. About 12,203 shares traded hands or 242.88% up from the average. ATA Inc.(ADR) (NASDAQ:ATAI) has declined 31.00% since June 7, 2016 and is downtrending. It has underperformed by 38.42% the S&P500.
Analysts await ATA Inc.(ADR) (NASDAQ:ATAI) to report earnings on February, 16.
According to Zacks Investment Research, “ATA Inc. is the leading provider of computer-based testing services in China. The Company offers comprehensive services for the creation and delivery of computer-based tests based on its proprietary testing technologies and test delivery platform. The Company’s computer-based testing services are used for professional licensure and certification tests in various industries, including information technology, or IT, services, banking, teaching, securities, insurance and accounting.”
ATAI Company Profile
ATA Inc. (ATA), incorporated on September 1, 2006, is a well-known provider of computer testing services in China. The Firm offers services for the creation and delivery of computer tests utilizing its test delivery platform, testing technologies and testing services in China. The Company’s computer testing services are used for licensure and certification tests in various industries, including information technology (IT) services, banking, securities, teaching and insurance. The Company’s computer testing services clients include professional associations, Chinese Governmental agencies and state-owned enterprises. As of March 31, 2016, the Company’s test center network included approximately 3,035 test centers located throughout China. The Company’s network allows its clients to administer computer and paper tests. The Firm has delivered approximately 88.1 million tests, including approximately 11.8 million free tests for business development purposes. During the fiscal year ended March 31, 2016, approximately 10.4 million tests were delivered using its computer testing technologies and services.
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