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Sunday, September 11, 2011

Downward Wedge Detected: (CXS), (OMX), (SFD), (WWE), (IMKTA)

Downward wedge patterns have been noticed on September 11 for the stocks Crexus Investment Corp, OfficeMax Incorporated, Smithfield Foods Inc, World Wrestling Entertainment Inc, and Ingles Markets 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 Crexus Investment Corp (CXS) fell by 3.91% or $-0.35/share to $8.59. In the past year, the shares have traded as low as $8.67 and as high as $13.19. On average, 661410 shares of CXS exchange hands on a given day and today's volume is recorded at 429880.

Shares of OfficeMax Incorporated (OMX) fell by 5.72% or $-0.33/share to $5.44. In the past year, the shares have traded as low as $5.02 and as high as $19.20. On average, 3106220 shares of OMX exchange hands on a given day and today's volume is recorded at 2351898.

Shares of Smithfield Foods Inc (SFD) fell by 4.05% or $-0.82/share to $19.45. In the past year, the shares have traded as low as $14.82 and as high as $24.93. On average, 2769750 shares of SFD exchange hands on a given day and today's volume is recorded at 4525846.

Shares of World Wrestling Entertainment Inc (WWE) fell by 0.98% or $-0.09/share to $9.1. In the past year, the shares have traded as low as $8.68 and as high as $14.12. On average, 235340 shares of WWE exchange hands on a given day and today's volume is recorded at 171551.

Shares of Ingles Markets Inc (IMKTA) traded higher by 0.42% or $0.06/share to $14.4. In the past year, the shares have traded as low as $14.05 and as high as $19.92. On average, 40400 shares of IMKTA exchange hands on a given day and today's volume is recorded at 51157.