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Monday, May 14, 2012

Bearish Wedge Pattern Detected: (IWB), (JKE), (CASY), (WOR), (XRS)

Upward wedge patterns have been noticed on May 14 for the stocks iShares Russell 1000 Index, iShares Morningstar Large Growth Index, Casey's General Stores Inc, Worthington Industries, Inc, and TAL Education Group. 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 iShares Russell 1000 Index (IWB) fell by 0.61% or $-0.46/share to $74.73. In the past year, the shares have traded as low as $58.60 and as high as $78.80. On average, 1102140 shares of IWB exchange hands on a given day and today's volume is recorded at 391288.

Shares of iShares Morningstar Large Growth Index (JKE) fell by 0.53% or $-0.39/share to $73.82. In the past year, the shares have traded as low as $57.04 and as high as $78.31. On average, 44240 shares of JKE exchange hands on a given day and today's volume is recorded at 21661.

Shares of Casey's General Stores Inc (CASY) fell by 1.94% or $-1.16/share to $58.75. In the past year, the shares have traded as low as $38.53 and as high as $60.61. On average, 208890 shares of CASY exchange hands on a given day and today's volume is recorded at 415787.

Shares of Worthington Industries, Inc (WOR) fell by 0.51% or $-0.09/share to $17.62. In the past year, the shares have traded as low as $12.66 and as high as $23.22. On average, 609230 shares of WOR exchange hands on a given day and today's volume is recorded at 423833.

Shares of TAL Education Group (XRS) traded higher by 0.28% or $0.03/share to $10.6. In the past year, the shares have traded as low as $8.41 and as high as $13.75. On average, 53710 shares of XRS exchange hands on a given day and today's volume is recorded at 49376.