Noteworthy Price Action: Power REIT Formed Bearish Head & Shoulders Chart Pattern; Sellers Are Thriving

Noteworthy Price Action: Power REIT Formed Bearish Head & Shoulders Chart Pattern; Sellers Are Thriving

The stock of Power REIT (PW) formed H&S with $6.17 target or 7.00% below today’s $6.63 share price. The 9 months Head & Shoulders indicates high risk for the $11.80 million company. It was reported on Jan, 11 by Faxor.com. If the $6.17 price target is reached, the company will be worth $826,000 less.
Head-and-shoulders are one of the best chart patterns to trade. They work in bear and bull markets and according to many researchers have very low failure rate. Even thought they have high pullback rate, such patters usually provide good risk-reward entry opportunities. The percentage of stocks meeting price targets is 55%. About 154 shares traded hands. Power REIT (NYSEMKT:PW) has risen 43.70% since June 7, 2016 and is uptrending. It has outperformed by 36.27% the S&P500.

Power REIT (NYSEMKT:PW) Ratings Coverage

Out of 2 analysts covering Power REIT (NYSEMKT:PW), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. Power REIT has been the topic of 2 analyst reports since June 14, 2016 according to StockzIntelligence Inc. The stock of Power REIT (NYSEMKT:PW) earned “Sector Perform” rating by RBC Capital Markets on Monday, June 27. Desjardins Securities upgraded the stock to “Hold” rating in Tuesday, June 14 report.

According to Zacks Investment Research, “Pittsburgh & West Virginia Railroad is a business trust organized for the purpose of leasing railroad properties to Norfolk Southern Corporation (NSC). The leased properties consist of a railroad line 112 miles in length, extending from Connellsville, Washington, and Allegheny Counties in the Commonwealth of Pennsylvania; Brooke County in the State of West Virginia, and Jefferson and Harrison Counties in Ohio.”

PW Company Profile

Power REIT, incorporated on August 26, 2011, is a real estate investment trust (REIT) that holds, develops, acquires and manages real estate assets related to transportation and energy infrastructure in the United States. The Company, within the transportation and energy infrastructure sectors, is focused on making new acquisitions of real estate that are or will be leased to renewable energy generation projects, such as utility-scale solar farms and wind farms. The Firm is structured as a holding firm and owns its assets through its subsidiaries. The Company’s assets include approximately 112 miles of railroad infrastructure and related real estate, which is owned by its subsidiary Pittsburgh & West Virginia Railroad (P&WV) and approximately 601 acres of fee simple land leased to a range of solar power generating projects with an aggregate generating capacity of approximately 108 Megawatts (MW). It is engaged in expanding its portfolio of real estate related to renewable energy generation projects, and is focused on investment opportunities that qualify for REIT ownership within solar, wind, hydroelectric, geothermal, transmission and other infrastructure projects.

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