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Friday, May 11, 2012

Technical Downward Wedge: (PCX)

Downward wedge patterns have been noticed on May 11 for the stocks Patriot Coal Corporation. 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 Patriot Coal Corporation (PCX) fell by 4.59% or $-0.24/share to $4.96. In the past year, the shares have traded as low as $5.05 and as high as $24.99. On average, 7163570 shares of PCX exchange hands on a given day and today's volume is recorded at 5055663.