Downward wedge patterns have been noticed on April 27 for the stocks Market Vectors Gold Miners ETF, and Tellabs 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 Market Vectors Gold Miners ETF (GDX) traded higher by 1.19% or $0.55/share to $46.8. In the past year, the shares have traded as low as $44.18 and as high as $66.79. On average, 13060640 shares of GDX exchange hands on a given day and today's volume is recorded at 9264598.
Shares of Tellabs Inc (TLAB) traded higher by 0.26% or $0.01/share to $3.82. In the past year, the shares have traded as low as $3.63 and as high as $4.90. On average, 2797310 shares of TLAB exchange hands on a given day and today's volume is recorded at 3002583.
