Vicon Industries Draws Bearish Attention

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The stock of Vicon Industries, Inc. (VII) shows a multiple bottoms pattern with $0.60 target or 6.00% below today’s $0.64 share price. The 9 months chart pattern indicates high risk for the $6.23M company. It was reported on Dec, 27 by If the $0.60 price target is reached, the company will be worth $373,800 less.

The stock increased 5.80% or $0.035 on December 23, hitting $0.635. Vicon Industries, Inc. (NYSEMKT:VII) has declined 5.97% since May 23, 2016 and is downtrending. It has underperformed by 16.50% the S&P500.

According to Zacks Investment Research, “Vicon Industries, Inc. designs, manufactures, assembles and markets a wide range of closed circuit video systems and system components used for security, surveillance, safety and control purposes by a broad group of end users. A closed circuit video systems system is a private video system that can transmit and receive video, audio and data signals in accordance with the operational needs of the user. The company’s focus is the design of software-based engineered closed circuit video systems and components that it sells worldwide.”

VII Company Profile: Vicon Industries, Inc., incorporated on October 4, 1967, develops video management software. The Firm also designs, assembles and markets a range of video system components, consisting of cameras, network video servers or recorders, encoders and mass storage units, used in security, surveillance, safety and control applications by a group of end users.