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Sunday, June 10, 2012

Bearish Upward Wedge Detected: (AEIS), (ENH), (CNL), (ESS), (HSNI)

Upward wedge patterns have been noticed on June 10 for the stocks Advanced Energy Industries, Inc, Endurance Specialty Holdings Ltd, Cleco Corporation, Essex Property Trust Inc, and HSN, 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 Advanced Energy Industries, Inc (AEIS) traded higher by 1.97% or $0.27/share to $13.95. In the past year, the shares have traded as low as $7.56 and as high as $15.07. On average, 418860 shares of AEIS exchange hands on a given day and today's volume is recorded at 297628.

Shares of Endurance Specialty Holdings Ltd (ENH) fell by 0.99% or $-0.39/share to $39.02. In the past year, the shares have traded as low as $31.16 and as high as $41.99. On average, 283140 shares of ENH exchange hands on a given day and today's volume is recorded at 222881.

Shares of Cleco Corporation (CNL) traded higher by 1.00% or $0.41/share to $41.49. In the past year, the shares have traded as low as $29.34 and as high as $41.45. On average, 404410 shares of CNL exchange hands on a given day and today's volume is recorded at 308017.

Shares of Essex Property Trust Inc (ESS) traded higher by 1.10% or $1.67/share to $153.09. In the past year, the shares have traded as low as $109.62 and as high as $161.54. On average, 296240 shares of ESS exchange hands on a given day and today's volume is recorded at 116781.

Shares of HSN, Inc (HSNI) fell by 0.18% or $-0.07/share to $39.89. In the past year, the shares have traded as low as $27.27 and as high as $40.76. On average, 403310 shares of HSNI exchange hands on a given day and today's volume is recorded at 394635.