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Wednesday, August 3, 2011

Upward Wedge Detected: (EWM), (AVEO), (AM), (SQM), (PAC)

Upward wedge patterns have been noticed on August 3 for the stocks iShares MSCI Malaysia Index, AVEO Pharmaceuticals, Inc, American Greetings Corp, Chemical & Mining Co. of Chile Inc, and Grupo Aeroportuario del Pacifico S.A.B. de CV. The price range of these stocks is getting more narrow as the upward trend continues, thus signally the trend is losing steam. This sends a bearish signal to investors as the upward trend is ending.

Shares of iShares MSCI Malaysia Index (EWM) remained unchanged at $15.0. In the past year, the shares have traded as low as $11.67 and as high as $15.48. On average, 2655610 shares of EWM exchange hands on a given day and today's volume is recorded at 2384298.

Shares of AVEO Pharmaceuticals, Inc (AVEO) fell by 1.43% or $-0.26/share to $17.88. In the past year, the shares have traded as low as $6.18 and as high as $21.55. On average, 463890 shares of AVEO exchange hands on a given day and today's volume is recorded at 327535.

Shares of American Greetings Corp (AM) traded higher by 0.88% or $0.19/share to $21.88. In the past year, the shares have traded as low as $17.55 and as high as $24.68. On average, 294960 shares of AM exchange hands on a given day and today's volume is recorded at 310363.

Shares of Chemical & Mining Co. of Chile Inc (SQM) fell by 1.82% or $-1.15/share to $61.97. In the past year, the shares have traded as low as $37.81 and as high as $67.75. On average, 558090 shares of SQM exchange hands on a given day and today's volume is recorded at 480196.

Shares of Grupo Aeroportuario del Pacifico S.A.B. de CV (PAC) traded higher by 0.05% or $0.02/share to $40.37. In the past year, the shares have traded as low as $26.46 and as high as $42.22. On average, 100990 shares of PAC exchange hands on a given day and today's volume is recorded at 80499.