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Sunday, July 29, 2012

Bearish Upward Wedge Detected: (TCBI), (ACC), (NEE), (ARIA), (AZPN)

Upward wedge patterns have been noticed on July 29 for the stocks Texas Capital BancShares Inc, American Campus Communities Inc, NextEra Energy, Inc, Ariad Pharmaceuticals Inc, and Aspen Technology, 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 Texas Capital BancShares Inc (TCBI) traded higher by 6.88% or $2.82/share to $43.83. In the past year, the shares have traded as low as $21.39 and as high as $43.79. On average, 443030 shares of TCBI exchange hands on a given day and today's volume is recorded at 2269643.

Shares of American Campus Communities Inc (ACC) traded higher by 0.36% or $0.17/share to $47.18. In the past year, the shares have traded as low as $31.49 and as high as $47.55. On average, 990480 shares of ACC exchange hands on a given day and today's volume is recorded at 934375.

Shares of NextEra Energy, Inc (NEE) traded higher by 0.52% or $0.37/share to $71.09. In the past year, the shares have traded as low as $47.11 and as high as $70.95. On average, 1862750 shares of NEE exchange hands on a given day and today's volume is recorded at 1897937.

Shares of Ariad Pharmaceuticals Inc (ARIA) traded higher by 6.23% or $1.11/share to $18.92. In the past year, the shares have traded as low as $7.55 and as high as $18.39. On average, 3066710 shares of ARIA exchange hands on a given day and today's volume is recorded at 2532394.

Shares of Aspen Technology, Inc (AZPN) traded higher by 2.56% or $0.59/share to $23.66. In the past year, the shares have traded as low as $12.61 and as high as $23.83. On average, 591900 shares of AZPN exchange hands on a given day and today's volume is recorded at 456171.