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What’s Next for Shoe Carnival, Inc. (SCVL) After Forming Bearish Double Bottom Chart Pattern?





July 17, 2017 – By Maria Brooks







Investors sentiment decreased to 1 in Q4 2016. Its down 0.49, from 1.49 in 2016Q3. It fall, as 6 investors sold Shoe Carnival, Inc. shares while 41 reduced holdings. 21 funds opened positions while 26 raised stakes. 11.81 million shares or 5.22% less from 12.46 million shares in 2016Q3 were reported.
Royal Bank Of Canada stated it has 601 shares or 0% of all its holdings. Goldman Sachs Grp stated it has 25,525 shares or 0% of all its holdings. Schwab Charles Invest Mgmt holds 0% or 87,379 shares. Sterling Cap Mngmt owns 23,500 shares. California State Teachers Retirement Sys has 0% invested in Shoe Carnival, Inc. (NASDAQ:SCVL) for 25,599 shares. Franklin Resources holds 200,000 shares or 0% of its portfolio. State Street Corp holds 0% or 396,715 shares. Loomis Sayles & Com Lp reported 726 shares. Lsv Asset invested 0.01% in Shoe Carnival, Inc. (NASDAQ:SCVL). Texas Permanent School Fund holds 9,675 shares or 0% of its portfolio. Us National Bank & Trust De holds 0% in Shoe Carnival, Inc. (NASDAQ:SCVL) or 743 shares. Wellington Mngmt Group Ltd Liability Partnership has invested 0.01% in Shoe Carnival, Inc. (NASDAQ:SCVL). Wells Fargo Com Mn has 47,748 shares. Principal Gp invested in 100,983 shares or 0% of the stock. State Board Of Administration Of Florida Retirement Systems accumulated 13,983 shares.

The chart of Shoe Carnival, Inc. (SCVL) shows a double bottom with $18.36 target or 4.00 % below today’s $19.13 share price. The 9 months chart pattern indicates high risk for the $322.88 million company. It was reported on Jul, 17 by Finviz.com. If the $18.36 price target is reached, the company will be worth $12.92 million less. Double bottoms are rare but powerful chart patterns.

It closed at $19.13 lastly. It is down 13.98% since July 17, 2016 and is downtrending. It has underperformed by 30.68% the S&P500.

Shoe Carnival, Inc. (NASDAQ:SCVL) Ratings Coverage

Among 7 analysts covering Shoe Carnival (NASDAQ:SCVL), 3 have Buy rating, 0 Sell and 4 Hold. Therefore 43% are positive. Shoe Carnival had 12 analyst reports since August 18, 2015 according to SRatingsIntel. The rating was maintained by Susquehanna with “Neutral” on Thursday, November 12. The stock has “Neutral” rating by Mizuho on Tuesday, January 10. The stock has “Buy” rating by Zacks on Friday, September 4. The stock has “Hold” rating by Standpoint Research on Wednesday, March 30. Standpoint Research upgraded the stock to “Buy” rating in Friday, December 11 report. The company was maintained on Friday, May 20 by Sterne Agee CRT. The firm has “Neutral” rating by Sidoti given on Tuesday, June 7. The stock of Shoe Carnival, Inc. (NASDAQ:SCVL) has “Neutral” rating given on Thursday, December 15 by Mizuho. The stock of Shoe Carnival, Inc. (NASDAQ:SCVL) has “Buy” rating given on Tuesday, August 18 by Zacks. Jefferies maintained Shoe Carnival, Inc. (NASDAQ:SCVL) rating on Thursday, September 1. Jefferies has “Hold” rating and $29 target.

More notable recent Shoe Carnival, Inc. (NASDAQ:SCVL) news were published by: Seekingalpha.com which released: “Shoe Carnival: Bias Is To The Downside” on September 19, 2016, also Fool.com with their article: “Why Shoe Carnival, Inc. Stock Tumbled Today” published on May 03, 2017, Seekingalpha.com published: “Shoe Carnival’s Horrible Q3 Is An Opportunity” on December 17, 2016. More interesting news about Shoe Carnival, Inc. (NASDAQ:SCVL) were released by: Footwearnews.com and their article: “Profits for Popular Shoe Retailers Journeys & Shoe Carnival Are Tumbling …” published on May 25, 2017 as well as Finance.Yahoo.com‘s news article titled: “Shoe Carnival Updates Full Fiscal Year 2016 Financial Guidance” with publication date: January 09, 2017.

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