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Sunday, September 18, 2011

Bearish Wedge Pattern Detected: (RGC), (AKRX), (SLV)

Upward wedge patterns have been noticed on September 18 for the stocks Regal Entertainment Group, Akorn, Inc, and iShares Silver Trust. 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 Regal Entertainment Group (RGC) traded higher by 0.40% or $0.05/share to $12.61. In the past year, the shares have traded as low as $10.93 and as high as $14.53. On average, 2423200 shares of RGC exchange hands on a given day and today's volume is recorded at 741305.

Shares of Akorn, Inc (AKRX) traded higher by 6.84% or $0.58/share to $9.06. In the past year, the shares have traded as low as $3.76 and as high as $8.81. On average, 985600 shares of AKRX exchange hands on a given day and today's volume is recorded at 2375965.

Shares of iShares Silver Trust (SLV) traded higher by 1.55% or $0.60/share to $39.39. In the past year, the shares have traded as low as $20.06 and as high as $48.35. On average, 34734040 shares of SLV exchange hands on a given day and today's volume is recorded at 19948872.