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Friday, December 2, 2011

Bearish Upward Wedge Detected: (NUC), (CSE), (HTD), (V), (TJX)

Upward wedge patterns have been noticed on December 2 for the stocks Nuveen California Quality Income Municipal Fund, Inc, CapitalSource Inc, John Hancock Tax Advantaged Dividend Income Fund, Visa, 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 Nuveen California Quality Income Municipal Fund, Inc (NUC) traded higher by 0.44% or $0.07/share to $15.17. In the past year, the shares have traded as low as $11.47 and as high as $15.40. On average, 32000 shares of NUC exchange hands on a given day and today's volume is recorded at 46288.

Shares of CapitalSource Inc (CSE) traded higher by 0.31% or $0.02/share to $6.52. In the past year, the shares have traded as low as $5.07 and as high as $8.17. On average, 4352480 shares of CSE exchange hands on a given day and today's volume is recorded at 3045773.

Shares of John Hancock Tax Advantaged Dividend Income Fund (HTD) fell by 1.56% or $-0.27/share to $16.99. In the past year, the shares have traded as low as $12.98 and as high as $17.26. On average, 102850 shares of HTD exchange hands on a given day and today's volume is recorded at 109671.

Shares of Visa, Inc (V) fell by 0.58% or $-0.57/share to $97.19. In the past year, the shares have traded as low as $65.97 and as high as $98.26. On average, 4904870 shares of V exchange hands on a given day and today's volume is recorded at 2535961.

Shares of The TJX Companies, Inc (TJX) fell by 0.42% or $-0.26/share to $62.3. In the past year, the shares have traded as low as $41.98 and as high as $63.11. On average, 3352750 shares of TJX exchange hands on a given day and today's volume is recorded at 2427403.