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Friday, July 1, 2011

Downward Wedge Detected: (TX), (WABC), (ALXN), (SFNC), (PROJ)

Downward wedge patterns have been noticed on July 1 for the stocks Ternium S.A, Westamerica Bancorp, Alexion Pharmaceuticals, Inc, Simmons First National Corporation, and Deltek, Inc. The price range of these stocks is getting more narrow as the downward trend continues, thus signally the trend is losing steam. This sends a bullish signal to investors as the downward trend is ending.

Shares of Ternium S.A (TX) traded higher by 5.18% or $1.53/share to $31.06. In the past year, the shares have traded as low as $28.19 and as high as $42.77. On average, 566590 shares of TX exchange hands on a given day and today's volume is recorded at 1080349.

Shares of Westamerica Bancorp (WABC) traded higher by 1.64% or $0.81/share to $50.06. In the past year, the shares have traded as low as $46.91 and as high as $56.14. On average, 133390 shares of WABC exchange hands on a given day and today's volume is recorded at 114449.

Shares of Alexion Pharmaceuticals, Inc (ALXN) traded higher by 1.02% or $0.48/share to $47.51. In the past year, the shares have traded as low as $24.31 and as high as $52.50. On average, 1558470 shares of ALXN exchange hands on a given day and today's volume is recorded at 841801.

Shares of Simmons First National Corporation (SFNC) traded higher by 1.44% or $0.37/share to $26.03. In the past year, the shares have traded as low as $23.51 and as high as $29.72. On average, 34140 shares of SFNC exchange hands on a given day and today's volume is recorded at 36604.

Shares of Deltek, Inc (PROJ) fell by 0.13% or $-0.01/share to $7.48. In the past year, the shares have traded as low as $6.77 and as high as $8.68. On average, 45120 shares of PROJ exchange hands on a given day and today's volume is recorded at 61331.