Quick Win by the Algorithm: PFBC gained 41.87% in 3 months

Quick Win by the Algorithm

On October 9, 2016, the I Know First algorithm had predicted a bullish forecast for Preferred Bank (PFBC). PFBC had a signal of 86.54 and a predictability of 0.26. In accordance with the algorithm, the company reported long-position capital gains of 41.87% experiencing a quick win by the algorithm.

Preferred Bank (PFBC), provides various commercial banking products and services to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals, and high net worth individuals in the United States.

Quick Win Algorithm

On October 19, the company released its third-quarter earnings, revealing a record on it.

During the last months, a lot of different companies invested in PFBC, boosting the stakes they owned from the company. California State Teachers Retirement System, MAI Capital Management, Palouse Capital Management Inc., Kennedy Capital Management Inc. and Bank of New York Mellon Corp made further investments in the company in order to strengthen their position in the company.

Moreover, the moves realized by the institutional investors of the company -as Teacher Advisor Inc., or Deer & Co indicated a rise in the market and resulted in an increase in its trading volume. This means more market awareness and also stability and support for price advances.

This bullish forecast on PFBC was sent to current I Know First subscribers on October 9, 2016. 

Before making any trading decisions, consult the latest forecast as the algorithm constantly updates predictions daily. While the algorithm can be used 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.

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