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Tuesday, April 24, 2012

Bearish Upward Wedge Detected: (PG), (SD), (BMR), (IYK), (COLB)

Upward wedge patterns have been noticed on April 24 for the stocks Procter & Gamble Co, SandRidge Energy, Inc, BioMed Realty Trust Inc, iShares Dow Jones US Consumer Goods, and Columbia Banking System 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 Procter & Gamble Co (PG) traded higher by 0.51% or $0.34/share to $66.99. In the past year, the shares have traded as low as $56.64 and as high as $67.95. On average, 10590960 shares of PG exchange hands on a given day and today's volume is recorded at 3797551.

Shares of SandRidge Energy, Inc (SD) traded higher by 1.41% or $0.10/share to $7.28. In the past year, the shares have traded as low as $4.55 and as high as $12.68. On average, 13761740 shares of SD exchange hands on a given day and today's volume is recorded at 5253889.

Shares of BioMed Realty Trust Inc (BMR) traded higher by 1.48% or $0.28/share to $19.4. In the past year, the shares have traded as low as $14.44 and as high as $20.32. On average, 1915030 shares of BMR exchange hands on a given day and today's volume is recorded at 870269.

Shares of iShares Dow Jones US Consumer Goods (IYK) remained unchanged at $72.93. In the past year, the shares have traded as low as $59.36 and as high as $74.89. On average, 34320 shares of IYK exchange hands on a given day and today's volume is recorded at 14341.

Shares of Columbia Banking System Inc (COLB) traded higher by 1.97% or $0.42/share to $21.7. In the past year, the shares have traded as low as $13.14 and as high as $23.52. On average, 221470 shares of COLB exchange hands on a given day and today's volume is recorded at 97541.