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Thursday, July 19, 2012

Bearish Upward Wedge Detected: (ATHN), (ACAS), (NVC), (MCA), (BRK-A)

Upward wedge patterns have been noticed on July 19 for the stocks athenahealth, Inc, American Capital, Ltd, Nuveen California Select Quality Municipal Fund, Inc, Blackrock MuniYield California Insured Fund, Inc, and Berkshire Hathaway 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 athenahealth, Inc (ATHN) fell by 1.36% or $-1.20/share to $87.18. In the past year, the shares have traded as low as $40.79 and as high as $89.61. On average, 466570 shares of ATHN exchange hands on a given day and today's volume is recorded at 917833.

Shares of American Capital, Ltd (ACAS) traded higher by 0.41% or $0.04/share to $9.86. In the past year, the shares have traded as low as $5.98 and as high as $10.30. On average, 3489150 shares of ACAS exchange hands on a given day and today's volume is recorded at 1634716.

Shares of Nuveen California Select Quality Municipal Fund, Inc (NVC) traded higher by 0.31% or $0.05/share to $16.41. In the past year, the shares have traded as low as $11.91 and as high as $16.54. On average, 35570 shares of NVC exchange hands on a given day and today's volume is recorded at 29051.

Shares of Blackrock MuniYield California Insured Fund, Inc (MCA) traded higher by 0.75% or $0.12/share to $16.17. In the past year, the shares have traded as low as $11.86 and as high as $16.05. On average, 67340 shares of MCA exchange hands on a given day and today's volume is recorded at 181129.

Shares of Berkshire Hathaway Inc (BRK-A) fell by 0.31% or $-394.91/share to $126995.0. In the past year, the shares have traded as low as $98952.00 and as high as $127993.35. On average, 55390 shares of BRK-A exchange hands on a given day and today's volume is recorded at 294.