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Sunday, April 22, 2012

Bearish Upward Wedge Detected: (ABAX), (PNG), (CBSH), (TDY), (VIS)

Upward wedge patterns have been noticed on April 22 for the stocks Abaxis Inc, PAA Natural Gas Storage, L.P, Commerce Bancshares, Inc, Teledyne Technologies Inc, and Vanguard Industrials ETF. 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 Abaxis Inc (ABAX) traded higher by 11.65% or $3.10/share to $29.71. In the past year, the shares have traded as low as $19.68 and as high as $31.69. On average, 92210 shares of ABAX exchange hands on a given day and today's volume is recorded at 418231.

Shares of PAA Natural Gas Storage, L.P (PNG) fell by 0.37% or $-0.07/share to $18.79. In the past year, the shares have traded as low as $14.90 and as high as $23.25. On average, 155120 shares of PNG exchange hands on a given day and today's volume is recorded at 102643.

Shares of Commerce Bancshares, Inc (CBSH) traded higher by 0.48% or $0.19/share to $39.85. In the past year, the shares have traded as low as $32.66 and as high as $43.20. On average, 410580 shares of CBSH exchange hands on a given day and today's volume is recorded at 374373.

Shares of Teledyne Technologies Inc (TDY) traded higher by 1.75% or $1.08/share to $62.84. In the past year, the shares have traded as low as $43.82 and as high as $63.83. On average, 162720 shares of TDY exchange hands on a given day and today's volume is recorded at 170598.

Shares of Vanguard Industrials ETF (VIS) traded higher by 0.83% or $0.56/share to $68.33. In the past year, the shares have traded as low as $49.94 and as high as $71.18. On average, 50100 shares of VIS exchange hands on a given day and today's volume is recorded at 26571.