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Sunday, October 9, 2011

Technical Downward Wedge: (CLS), (NTRI), (CKP), (OMG), (CBRL)

Downward wedge patterns have been noticed on October 9 for the stocks Celestica Inc, NutriSystem Inc, Checkpoint Systems Inc, OM Group Inc, and Cracker Barrel Old Country Store, 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 Celestica Inc (CLS) fell by 1.46% or $-0.12/share to $8.09. In the past year, the shares have traded as low as $6.79 and as high as $12.48. On average, 1088650 shares of CLS exchange hands on a given day and today's volume is recorded at 1227930.

Shares of NutriSystem Inc (NTRI) fell by 1.81% or $-0.22/share to $11.94. In the past year, the shares have traded as low as $10.46 and as high as $21.81. On average, 405980 shares of NTRI exchange hands on a given day and today's volume is recorded at 188958.

Shares of Checkpoint Systems Inc (CKP) fell by 3.63% or $-0.52/share to $13.82. In the past year, the shares have traded as low as $12.36 and as high as $23.00. On average, 253190 shares of CKP exchange hands on a given day and today's volume is recorded at 154039.

Shares of OM Group Inc (OMG) fell by 4.44% or $-1.22/share to $26.26. In the past year, the shares have traded as low as $23.67 and as high as $41.88. On average, 278170 shares of OMG exchange hands on a given day and today's volume is recorded at 122340.

Shares of Cracker Barrel Old Country Store, Inc (CBRL) fell by 1.03% or $-0.42/share to $40.51. In the past year, the shares have traded as low as $37.31 and as high as $57.03. On average, 315240 shares of CBRL exchange hands on a given day and today's volume is recorded at 243762.