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Monday, November 7, 2011

Bearish Wedge Pattern Detected: (PEG), (V), (MYI), (SNP), (LOPE)

Upward wedge patterns have been noticed on November 7 for the stocks Public Service Enterprise Group Inc, Visa, Inc, Blackrock MuniYield Insured Fund, Inc, China Petroleum & Chemical Corp, and Grand Canyon Education, 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 Public Service Enterprise Group Inc (PEG) traded higher by 0.65% or $0.22/share to $34.1. In the past year, the shares have traded as low as $27.68 and as high as $35.48. On average, 3921990 shares of PEG exchange hands on a given day and today's volume is recorded at 1440770.

Shares of Visa, Inc (V) fell by 0.06% or $-0.06/share to $92.58. In the past year, the shares have traded as low as $66.12 and as high as $95.87. On average, 5872210 shares of V exchange hands on a given day and today's volume is recorded at 1472395.

Shares of Blackrock MuniYield Insured Fund, Inc (MYI) traded higher by 0.60% or $0.08/share to $13.33. In the past year, the shares have traded as low as $10.64 and as high as $13.25. On average, 127470 shares of MYI exchange hands on a given day and today's volume is recorded at 91893.

Shares of China Petroleum & Chemical Corp (SNP) traded higher by 2.94% or $2.99/share to $104.64. In the past year, the shares have traded as low as $81.17 and as high as $107.89. On average, 223820 shares of SNP exchange hands on a given day and today's volume is recorded at 254845.

Shares of Grand Canyon Education, Inc (LOPE) traded higher by 0.83% or $0.13/share to $15.85. In the past year, the shares have traded as low as $12.26 and as high as $20.66. On average, 348420 shares of LOPE exchange hands on a given day and today's volume is recorded at 133963.