The stock of Cleantech Solutions International Inc (CLNT) formed a down wedge with $0.64 target or 6.00% below today’s $0.68 share price. The 9 months wedge indicates high risk for the $3.10 million company. If the $0.64 price target is reached, the company will be worth $186,000 less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high. The stock decreased 1.45% or $0.01 on January 10, hitting $0.68. Cleantech Solutions International Inc (NASDAQ:CLNT) has declined 41.38% since June 7, 2016 and is downtrending. It has underperformed by 48.80% the S&P500.
Analysts await Cleantech Solutions International Inc (NASDAQ:CLNT) to report earnings on March, 30.
According to Zacks Investment Research, “Cleantech Solutions International, Inc. is engaged in manufacturing metal components and assemblies, primarily used in clean technology industries. The Company supplies forgings products, fabricated products and machining services to clean technology customers. Cleantech Solutions International, Inc., formerly known as China Wind Systems, Inc., is headquartered in Wuxi City, China.”
CLNT Company Profile
Cleantech Solutions International, Inc., incorporated on incorporated on June 24, 1987, through its subsidiaries, makes and sells textile dyeing and finishing machines and sells forged products and fabricated products to a range of clean technology customers, including high precision forged rolled rings and related components for the wind power industry and other industries. The Firm operates through three divisions: dyeing and finishing equipment segment, forged rolled rings and related components segment, and petroleum and chemical equipment segment. Through its forged rolled rings and other related products segment, the Company produces precision forged rolled rings and other forged components to the energy industry, including wind power and other industries.
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