After Forming Bearish Multiple Bottom, Is NQ Mobile Inc (ADR)’s Near-Term Analysis Negative?

The stock of NQ Mobile Inc (ADR) (NQ) shows a multiple bottoms pattern with $3.25 target or 13.00% below today’s $3.73 share price. The 8 months chart pattern indicates high risk for the $337.07M company. It was reported on Feb, 29 by If the $3.25 price target is reached, the company will be worth $43.82M 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 1.08% or $0.04 on February 26, hitting $3.73. NQ Mobile Inc (ADR) (NYSE:NQ) has declined 2.36% since July 23, 2015 and is downtrending. It has outperformed by 4.97% the S&P500.

Analysts await NQ Mobile Inc (ADR) (NYSE:NQ) to reports earnings on March, 16.

According to Zacks Investment Research, “NetQin Mobile Inc. is a global provider of consumer-centric mobile Internet services focusing on security and productivity. It develops and markets computer software. The company offers mobile security services, including mobile malware scanning, Internet firewall, account and communication safety, anti-theft, performance optimization, hostile software rating and reporting, and other services to protect users from mobile malware threats, data theft, and privacy intrusion. NetQin Mobile Inc. is based in Beijing, the People’s Republic of China.”

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