Downward wedge patterns have been noticed on May 28 for the stocks PetroQuest Energy Inc, ProShares UltraShort Telecommunications, Universal American Corp, Tellabs Inc, and Nuance Communications, 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 PetroQuest Energy Inc (PQ) fell by 1.66% or $-0.08/share to $4.73. In the past year, the shares have traded as low as $4.50 and as high as $8.70. On average, 829160 shares of PQ exchange hands on a given day and today's volume is recorded at 477245.
Shares of ProShares UltraShort Telecommunications (TLL) remained unchanged at $41.71. In the past year, the shares have traded as low as $35.15 and as high as $56.19. On average, 510 shares of TLL exchange hands on a given day and today's volume is recorded at 0.
Shares of Universal American Corp (UAM) traded higher by 2.05% or $0.20/share to $9.97. In the past year, the shares have traded as low as $8.79 and as high as $13.62. On average, 267760 shares of UAM exchange hands on a given day and today's volume is recorded at 102995.
Shares of Tellabs Inc (TLAB) fell by 0.84% or $-0.03/share to $3.54. In the past year, the shares have traded as low as $3.51 and as high as $4.68. On average, 2295900 shares of TLAB exchange hands on a given day and today's volume is recorded at 1004435.
Shares of Nuance Communications, Inc (NUAN) fell by 0.58% or $-0.12/share to $20.71. In the past year, the shares have traded as low as $15.56 and as high as $31.15. On average, 4476430 shares of NUAN exchange hands on a given day and today's volume is recorded at 3093409.
