Quick Win by the Algorithm: PIR Soars to 101.41% Returns in 3 Months

Quick Win by the Algorithm

On September 25, 2016, the I Know First algorithm had predicted a bullish forecast for Pier 1 Imports, Inc. (PIR). PIR had a signal of 177.35 and a predictability of 0.51. In accordance with the algorithm, the company reported long-position capital gains of 101.41% experiencing a quick win by the algorithm.

Quick Win by the Algorithm

Pier 1 Imports, Inc. (PIR), engages in the retail sale of decorative accessories, furniture, candles, housewares, gifts, and seasonal products.

In the last three months, PIR has more than doubled in price per share, beginning at around $4 per share, to over $9 per share. On December 14, the company reported its quarterly earnings which resulted in $0.22 earnings per share, this was $0.09 up from analyst consensus estimates of $0.13. Following the reported earnings, the stock began to sharply rise which the algorithm correctly predicted. PIR has been on a rally for quite some time and was projected to lose steam once their Q3 earnings were posted. However, they have continued to grow since December 14.

This bullish forecast on PIR was sent to current I Know First subscribers on September 25th, 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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