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Thursday, July 14, 2011

Stocks with Downward Wedge Patterns: (DRQ), (SFY), (SNN), (PMCS), (UMC)

Downward wedge patterns have been noticed on July 14 for the stocks Dril-Quip, Inc, Swift Energy Co, Smith & Nephew plc, PMC-Sierra Inc, and United Microelectronics Corporation. 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 Dril-Quip, Inc (DRQ) fell by 2.11% or $-1.45/share to $67.32. In the past year, the shares have traded as low as $46.39 and as high as $83.80. On average, 407500 shares of DRQ exchange hands on a given day and today's volume is recorded at 221445.

Shares of Swift Energy Co (SFY) fell by 1.77% or $-0.68/share to $37.73. In the past year, the shares have traded as low as $24.71 and as high as $48.19. On average, 723560 shares of SFY exchange hands on a given day and today's volume is recorded at 967700.

Shares of Smith & Nephew plc (SNN) fell by 0.74% or $-0.40/share to $53.43. In the past year, the shares have traded as low as $40.62 and as high as $59.82. On average, 175440 shares of SNN exchange hands on a given day and today's volume is recorded at 49705.

Shares of PMC-Sierra Inc (PMCS) fell by 2.06% or $-0.15/share to $7.13. In the past year, the shares have traded as low as $6.83 and as high as $9.20. On average, 2840040 shares of PMCS exchange hands on a given day and today's volume is recorded at 1703556.

Shares of United Microelectronics Corporation (UMC) fell by 1.65% or $-0.04/share to $2.38. In the past year, the shares have traded as low as $2.40 and as high as $3.52. On average, 3812750 shares of UMC exchange hands on a given day and today's volume is recorded at 2833947.