Downward wedge patterns have been noticed on May 16 for the stocks ProShares UltraShort QQQ, Tellabs Inc, PetroQuest Energy Inc, RF Micro Devices Inc, and 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 ProShares UltraShort QQQ (QID) traded higher by 1.50% or $0.51/share to $34.5. In the past year, the shares have traded as low as $29.41 and as high as $63.84. On average, 4861840 shares of QID exchange hands on a given day and today's volume is recorded at 3669506.
Shares of Tellabs Inc (TLAB) traded higher by 2.46% or $0.09/share to $3.75. In the past year, the shares have traded as low as $3.61 and as high as $4.68. On average, 2348170 shares of TLAB exchange hands on a given day and today's volume is recorded at 1110620.
Shares of PetroQuest Energy Inc (PQ) fell by 1.23% or $-0.06/share to $4.82. In the past year, the shares have traded as low as $4.72 and as high as $8.70. On average, 842700 shares of PQ exchange hands on a given day and today's volume is recorded at 770819.
Shares of RF Micro Devices Inc (RFMD) fell by 1.29% or $-0.05/share to $3.84. In the past year, the shares have traded as low as $3.86 and as high as $7.89. On average, 3655540 shares of RFMD exchange hands on a given day and today's volume is recorded at 1359735.
Shares of Patriot Coal Corporation (PCX) fell by 4.19% or $-0.17/share to $3.78. In the past year, the shares have traded as low as $3.89 and as high as $25.02. On average, 7291500 shares of PCX exchange hands on a given day and today's volume is recorded at 9396619.
