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Thursday, September 29, 2011

Bearish Upward Wedge Detected: (PRGO), (IIJI), (CYS), (ACTG), (CHD)

Upward wedge patterns have been noticed on September 29 for the stocks Perrigo Co, Internet Initiative Japan Inc, CYS Investments Inc, Acacia Research Corporation, and Church & Dwight Co. Inc. 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 Perrigo Co (PRGO) traded higher by 0.53% or $0.51/share to $97.23. In the past year, the shares have traded as low as $58.03 and as high as $100.99. On average, 780410 shares of PRGO exchange hands on a given day and today's volume is recorded at 424159.

Shares of Internet Initiative Japan Inc (IIJI) traded higher by 0.36% or $0.04/share to $11.13. In the past year, the shares have traded as low as $5.08 and as high as $11.78. On average, 26260 shares of IIJI exchange hands on a given day and today's volume is recorded at 20150.

Shares of CYS Investments Inc (CYS) fell by 0.33% or $-0.04/share to $12.01. In the past year, the shares have traded as low as $10.56 and as high as $13.23. On average, 2150740 shares of CYS exchange hands on a given day and today's volume is recorded at 690545.

Shares of Acacia Research Corporation (ACTG) fell by 6.27% or $-2.34/share to $35.0. In the past year, the shares have traded as low as $17.23 and as high as $47.24. On average, 525790 shares of ACTG exchange hands on a given day and today's volume is recorded at 486983.

Shares of Church & Dwight Co. Inc (CHD) fell by 0.75% or $-0.33/share to $43.94. In the past year, the shares have traded as low as $31.58 and as high as $46.29. On average, 880950 shares of CHD exchange hands on a given day and today's volume is recorded at 425942.