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Tuesday, July 3, 2012

Bearish Technical Upward Wedge: (PHII), (CNL), (MODL), (AVB), (WSBC)

Upward wedge patterns have been noticed on July 3 for the stocks PHI Inc, Cleco Corporation, Mondi Limited, Avalonbay Communities Inc, and WesBanco 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 PHI Inc (PHII) traded higher by 1.84% or $0.49/share to $27.09. In the past year, the shares have traded as low as $16.95 and as high as $26.60. On average, 1700 shares of PHII exchange hands on a given day and today's volume is recorded at 250.

Shares of Cleco Corporation (CNL) traded higher by 0.47% or $0.20/share to $42.88. In the past year, the shares have traded as low as $29.34 and as high as $42.73. On average, 420550 shares of CNL exchange hands on a given day and today's volume is recorded at 227362.

Shares of Mondi Limited (MODL) traded higher by 8.43% or $1.09/share to $14.02. In the past year, the shares have traded as low as $6.21 and as high as $14.20. On average, 235860 shares of MODL exchange hands on a given day and today's volume is recorded at 14466309.

Shares of Avalonbay Communities Inc (AVB) traded higher by 0.48% or $0.69/share to $144.05. In the past year, the shares have traded as low as $105.32 and as high as $148.34. On average, 643680 shares of AVB exchange hands on a given day and today's volume is recorded at 409579.

Shares of WesBanco Inc (WSBC) traded higher by 0.96% or $0.21/share to $22.0. In the past year, the shares have traded as low as $15.66 and as high as $21.83. On average, 59270 shares of WSBC exchange hands on a given day and today's volume is recorded at 24312.