Downward wedge patterns have been noticed on May 15 for the stocks ProShares UltraShort QQQ, Patriot Coal Corporation, Tellabs Inc, Market Vectors Gold Miners ETF, and Tootsie Roll Industries 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 ProShares UltraShort QQQ (QID) fell by 0.92% or $-0.31/share to $33.47. In the past year, the shares have traded as low as $29.41 and as high as $63.84. On average, 4912190 shares of QID exchange hands on a given day and today's volume is recorded at 3272128.
Shares of Patriot Coal Corporation (PCX) fell by 16.77% or $-0.81/share to $4.02. In the past year, the shares have traded as low as $4.82 and as high as $24.98. On average, 7086730 shares of PCX exchange hands on a given day and today's volume is recorded at 14893681.
Shares of Tellabs Inc (TLAB) traded higher by 1.50% or $0.05/share to $3.71. In the past year, the shares have traded as low as $3.61 and as high as $4.67. On average, 2441360 shares of TLAB exchange hands on a given day and today's volume is recorded at 1004413.
Shares of Market Vectors Gold Miners ETF (GDX) fell by 2.07% or $-0.85/share to $40.12. In the past year, the shares have traded as low as $40.95 and as high as $66.79. On average, 14092900 shares of GDX exchange hands on a given day and today's volume is recorded at 13975306.
Shares of Tootsie Roll Industries Inc (TR) traded higher by 0.63% or $0.14/share to $22.3. In the past year, the shares have traded as low as $21.63 and as high as $29.62. On average, 124620 shares of TR exchange hands on a given day and today's volume is recorded at 25698.
