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Monday, November 7, 2011

Upward Wedge Patterns Shown in Stocks: (MHN), (NGG), (IRETP), (AWK), (TJX)

Upward wedge patterns have been noticed on November 7 for the stocks BlackRock MuniHoldings New York Insured Fund, Inc, National Grid plc, Investors Real Estate Trust, American Water Works Company, Inc, and The TJX Companies, 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 BlackRock MuniHoldings New York Insured Fund, Inc (MHN) traded higher by 0.89% or $0.13/share to $14.71. In the past year, the shares have traded as low as $11.71 and as high as $14.63. On average, 58090 shares of MHN exchange hands on a given day and today's volume is recorded at 83201.

Shares of National Grid plc (NGG) traded higher by 0.33% or $0.17/share to $50.31. In the past year, the shares have traded as low as $40.74 and as high as $51.53. On average, 714460 shares of NGG exchange hands on a given day and today's volume is recorded at 884512.

Shares of Investors Real Estate Trust (IRETP) remained unchanged at $26.87. In the past year, the shares have traded as low as $23.87 and as high as $26.99. On average, 760 shares of IRETP exchange hands on a given day and today's volume is recorded at 0.

Shares of American Water Works Company, Inc (AWK) traded higher by 1.70% or $0.52/share to $31.11. In the past year, the shares have traded as low as $23.46 and as high as $31.08. On average, 1378480 shares of AWK exchange hands on a given day and today's volume is recorded at 810268.

Shares of The TJX Companies, Inc (TJX) fell by 0.38% or $-0.23/share to $60.36. In the past year, the shares have traded as low as $42.12 and as high as $61.28. On average, 3926060 shares of TJX exchange hands on a given day and today's volume is recorded at 1555371.