Quick Win By The Algorithm: Rentech Returns 48% On Changing Investor Sentiment

Quick Win By The Algorithm

On September 18, 2017, I Know First issued a bullish 3-days forecast for Rentech, Inc. (NASDAQ: RTK). The forecast showed a signal of 51.53 and a predictability of 0.12. In accordance with the forecast, RTK’s stock returned 48.05% over this period, solidifying another quick win by the I Know First algorithm.

 

 

Rentech, Inc., through its subsidiaries, operates as a wood fiber processing company in the United States, Canada, and internationally. It offers contract wood handling, chipping, and yard operations services; produces and sells wood chips to the pulp, paper, and packaging industry; produces wood pellets for the utility and industrial power generation, and the residential and commercial heating markets; processes and sells biomass fuel to industrial heat and utility customers; owns and manages forestland; and buys and trades wood chips, as well as sells bark to industrial consumers. The company was founded in 1980 and is based in Washington, the District of Columbia.

 

Stock Ranking

 

Rentech, Inc. has been an above average volatile stock over the past year.  It made a very significant surge upwards on Thursday September 21st.  Over 5.7 million shares were traded despite the average volume being closer to 450K.  This fact highlights that there was a meaningful shift in investor sentiment surrounding the stock.  Even with the strong move upward, the average price target still sits at $2.20, much higher than the most recent closing price.

Current I Know First subscribers received this bullish RTK forecast on September 18th, 2017. 

Disclaimer

Before making any trading decisions, consult the latest forecast as the algorithm updates predictions daily. You can use the algorithm for intra-day trading. The predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.