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Wednesday, October 5, 2011

Technical Downward Wedge: (ZIP), (UBSI), (AMAT), (VAR), (CRUS)

Downward wedge patterns have been noticed on October 5 for the stocks Zipcar, Inc, United Bankshares Inc, Applied Materials Inc, Varian Medical Systems Inc, and Cirrus Logic 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 Zipcar, Inc (ZIP) fell by 3.19% or $-0.56/share to $17.01. In the past year, the shares have traded as low as $16.50 and as high as $31.50. On average, 343180 shares of ZIP exchange hands on a given day and today's volume is recorded at 134947.

Shares of United Bankshares Inc (UBSI) traded higher by 0.76% or $0.16/share to $21.13. In the past year, the shares have traded as low as $18.78 and as high as $29.68. On average, 300510 shares of UBSI exchange hands on a given day and today's volume is recorded at 233078.

Shares of Applied Materials Inc (AMAT) traded higher by 2.48% or $0.25/share to $10.52. In the past year, the shares have traded as low as $9.69 and as high as $16.70. On average, 18949340 shares of AMAT exchange hands on a given day and today's volume is recorded at 12196476.

Shares of Varian Medical Systems Inc (VAR) traded higher by 2.85% or $1.48/share to $53.44. In the past year, the shares have traded as low as $48.72 and as high as $72.19. On average, 1523850 shares of VAR exchange hands on a given day and today's volume is recorded at 1615504.

Shares of Cirrus Logic Inc (CRUS) traded higher by 3.58% or $0.53/share to $15.34. In the past year, the shares have traded as low as $12.39 and as high as $25.48. On average, 2647180 shares of CRUS exchange hands on a given day and today's volume is recorded at 1908518.