Downward wedge patterns have been noticed on May 10 for the stocks Tellabs Inc, ProShares UltraShort QQQ, Patriot Coal Corporation, RF Micro Devices Inc, and Market Vectors Gold Miners ETF. 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 Tellabs Inc (TLAB) fell by 1.94% or $-0.07/share to $3.79. In the past year, the shares have traded as low as $3.63 and as high as $4.76. On average, 2478090 shares of TLAB exchange hands on a given day and today's volume is recorded at 1460331.
Shares of ProShares UltraShort QQQ (QID) traded higher by 0.94% or $0.31/share to $33.26. In the past year, the shares have traded as low as $29.41 and as high as $63.84. On average, 4910590 shares of QID exchange hands on a given day and today's volume is recorded at 4617659.
Shares of Patriot Coal Corporation (PCX) fell by 2.26% or $-0.12/share to $5.19. In the past year, the shares have traded as low as $5.05 and as high as $25.27. On average, 7168960 shares of PCX exchange hands on a given day and today's volume is recorded at 5991048.
Shares of RF Micro Devices Inc (RFMD) fell by 0.75% or $-0.03/share to $3.96. In the past year, the shares have traded as low as $3.90 and as high as $7.89. On average, 3806380 shares of RFMD exchange hands on a given day and today's volume is recorded at 4280335.
Shares of Market Vectors Gold Miners ETF (GDX) traded higher by 0.02% or $0.01/share to $43.03. In the past year, the shares have traded as low as $41.10 and as high as $66.79. On average, 13663010 shares of GDX exchange hands on a given day and today's volume is recorded at 17730416.
