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Thursday, May 3, 2012

Upward Wedge Patterns Shown in Stocks: (DD), (EWY), (IYY), (IVE), (SPG)

Upward wedge patterns have been noticed on May 3 for the stocks E. I. du Pont de Nemours and Company, iShares MSCI South Korea Index, iShares Dow Jones U.S. Index, iShares S&P 500 Value Index, and Simon Property Group Inc. The price range of these stocks is getting more narrow as the upward trend continues, thus signally the trend is losing steam. This sends a bearish signal to investors as the upward trend is ending.

Shares of E. I. du Pont de Nemours and Company (DD) fell by 0.69% or $-0.37/share to $53.3. In the past year, the shares have traded as low as $36.48 and as high as $54.76. On average, 5152720 shares of DD exchange hands on a given day and today's volume is recorded at 2750858.

Shares of iShares MSCI South Korea Index (EWY) fell by 0.35% or $-0.21/share to $59.58. In the past year, the shares have traded as low as $44.34 and as high as $67.74. On average, 2225740 shares of EWY exchange hands on a given day and today's volume is recorded at 2280188.

Shares of iShares Dow Jones U.S. Index (IYY) fell by 0.83% or $-0.59/share to $69.96. In the past year, the shares have traded as low as $53.02 and as high as $71.50. On average, 63630 shares of IYY exchange hands on a given day and today's volume is recorded at 34888.

Shares of iShares S&P 500 Value Index (IVE) fell by 0.70% or $-0.45/share to $63.73. In the past year, the shares have traded as low as $48.15 and as high as $65.69. On average, 443790 shares of IVE exchange hands on a given day and today's volume is recorded at 304204.

Shares of Simon Property Group Inc (SPG) fell by 0.66% or $-1.04/share to $155.95. In the past year, the shares have traded as low as $97.52 and as high as $158.60. On average, 1478520 shares of SPG exchange hands on a given day and today's volume is recorded at 991899.