Pattern Worth Mentioning: Deswell Industries, Inc. Forms Double Top; Strong Momentum for Buyers Coming

Pattern Worth Mentioning: Deswell Industries, Inc. Forms Double Top; Strong Momentum for Buyers Coming

The chart of Deswell Industries, Inc. (DSWL) shows a double top with $1.94 target or 7.00% above today’s $1.81 share price. The 5 months chart pattern indicates low risk for the $29.22 million company. It was reported on Jan, 11 by Finviz.com. If the $1.94 price target is reached, the company will be worth $2.05 million more. Double tops are rare but powerful chart patterns. About 4,072 shares traded hands. Deswell Industries, Inc. (NASDAQ:DSWL) has risen 11.11% since June 7, 2016 and is uptrending. It has outperformed by 3.69% the S&P500.

According to Zacks Investment Research, “Deswell Industries Inc. manufactures injection-molded plastic parts and components and electronic products and subassemblies for original equipment manufacturers(“OEMs”)and contract manufacturers. They produce a wide variety of plastic parts and components used in the manufacture of consumer and industrial products; printed circuit board assemblies using surface mount(“SMT”), and pin-through hole(“ PTH”)interconnection technologies;and finished products such as telephones,telephone answering machines,sophisticated audio equipment and computer peripherals.”

DSWL Company Profile

Deswell Industries, Inc., incorporated on December 2, 1993, is engaged in the manufacturing and selling of injection-molded plastic parts and components. The Firm also provides manufacturing services for electronic products and subassemblies, and makes metallic molds and accessory parts for original equipment manufacturers (OEMs) and contract manufacturers. The Company’s divisions include plastic injection molding and electronic products assembling. The Firm produces a range of plastic parts and components that are used in the manufacture of consumer and industrial products, using various plastic injection technologies, such as film injection, integrated injection and insert injection. The Company’s products include plastic components of electronic entertainment products; cases for flashlights, telephones, paging machines, projectors and alarm clocks; toner cartridges and cases for photocopy and printer machines; parts for electrical products, such as air-conditioning and ventilators; parts for audio equipment; cases and key tops for personal organizers and remote controls; double injection caps and baby products; parts for medical products, such as apparatus for blood tests; laser key caps, and automobile components.

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