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Tuesday, July 31, 2012

Bearish Technical Upward Wedge: (FORM), (MUC), (NVC), (CTBI), (BMS)

Upward wedge patterns have been noticed on July 31 for the stocks FormFactor Inc, BlackRock MuniHoldings California Insured Fund, Inc, Nuveen California Select Quality Municipal Fund, Inc, Community Trust Bancorp Inc, and Bemis Company, 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 FormFactor Inc (FORM) fell by 0.97% or $-0.06/share to $6.12. In the past year, the shares have traded as low as $4.68 and as high as $9.36. On average, 467590 shares of FORM exchange hands on a given day and today's volume is recorded at 320616.

Shares of BlackRock MuniHoldings California Insured Fund, Inc (MUC) traded higher by 0.31% or $0.05/share to $16.36. In the past year, the shares have traded as low as $12.07 and as high as $16.58. On average, 83970 shares of MUC exchange hands on a given day and today's volume is recorded at 102133.

Shares of Nuveen California Select Quality Municipal Fund, Inc (NVC) traded higher by 1.03% or $0.17/share to $16.72. In the past year, the shares have traded as low as $11.91 and as high as $16.80. On average, 34810 shares of NVC exchange hands on a given day and today's volume is recorded at 49361.

Shares of Community Trust Bancorp Inc (CTBI) fell by 1.37% or $-0.47/share to $33.94. In the past year, the shares have traded as low as $21.60 and as high as $35.26. On average, 44030 shares of CTBI exchange hands on a given day and today's volume is recorded at 63075.

Shares of Bemis Company, Inc (BMS) fell by 0.16% or $-0.05/share to $30.75. In the past year, the shares have traded as low as $26.55 and as high as $33.21. On average, 900230 shares of BMS exchange hands on a given day and today's volume is recorded at 907160.