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Sunday, July 29, 2012

Bearish Wedge Pattern Detected: (SCG), (BMS), (EOI), (PAYX), (APOG)

Upward wedge patterns have been noticed on July 29 for the stocks SCANA Corp, Bemis Company, Inc, Eaton Vance Enhanced Equity Income Fund, Paychex, Inc, and Apogee Enterprises, 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 SCANA Corp (SCG) traded higher by 1.96% or $0.95/share to $49.46. In the past year, the shares have traded as low as $33.11 and as high as $48.89. On average, 590370 shares of SCG exchange hands on a given day and today's volume is recorded at 654396.

Shares of Bemis Company, Inc (BMS) traded higher by 0.49% or $0.15/share to $30.9. In the past year, the shares have traded as low as $26.55 and as high as $33.21. On average, 897440 shares of BMS exchange hands on a given day and today's volume is recorded at 892293.

Shares of Eaton Vance Enhanced Equity Income Fund (EOI) traded higher by 1.52% or $0.16/share to $10.71. In the past year, the shares have traded as low as $8.37 and as high as $10.85. On average, 126370 shares of EOI exchange hands on a given day and today's volume is recorded at 174626.

Shares of Paychex, Inc (PAYX) traded higher by 1.66% or $0.54/share to $33.08. In the past year, the shares have traded as low as $24.35 and as high as $33.40. On average, 3099830 shares of PAYX exchange hands on a given day and today's volume is recorded at 2519447.

Shares of Apogee Enterprises, Inc (APOG) traded higher by 0.74% or $0.12/share to $16.42. In the past year, the shares have traded as low as $7.60 and as high as $17.20. On average, 195200 shares of APOG exchange hands on a given day and today's volume is recorded at 140827.