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Wednesday, May 30, 2012

Bearish Wedge Pattern Detected: (RWT), (TCB), (PHK), (DPS), (AMSG)

Upward wedge patterns have been noticed on May 30 for the stocks Redwood Trust Inc, TCF Financial Corporation, PIMCO High Income Fund, Dr Pepper Snapple Group, Inc, and AmSurg Corp. 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 Redwood Trust Inc (RWT) fell by 0.49% or $-0.06/share to $12.21. In the past year, the shares have traded as low as $9.31 and as high as $14.42. On average, 479080 shares of RWT exchange hands on a given day and today's volume is recorded at 181397.

Shares of TCF Financial Corporation (TCB) fell by 2.29% or $-0.27/share to $11.5. In the past year, the shares have traded as low as $8.49 and as high as $14.82. On average, 2521930 shares of TCB exchange hands on a given day and today's volume is recorded at 856861.

Shares of PIMCO High Income Fund (PHK) fell by 0.53% or $-0.07/share to $13.08. In the past year, the shares have traded as low as $9.74 and as high as $13.26. On average, 473270 shares of PHK exchange hands on a given day and today's volume is recorded at 211314.

Shares of Dr Pepper Snapple Group, Inc (DPS) fell by 0.44% or $-0.18/share to $40.92. In the past year, the shares have traded as low as $33.50 and as high as $42.05. On average, 2319490 shares of DPS exchange hands on a given day and today's volume is recorded at 1166132.

Shares of AmSurg Corp (AMSG) fell by 0.36% or $-0.10/share to $27.58. In the past year, the shares have traded as low as $19.08 and as high as $29.78. On average, 144440 shares of AMSG exchange hands on a given day and today's volume is recorded at 72775.