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Tuesday, July 31, 2012

Forming Upward Wedge Alert: (EOI), (CNQR), (AZPN), (ARIA), (MCA)

Upward wedge patterns have been noticed on July 31 for the stocks Eaton Vance Enhanced Equity Income Fund, Concur Technologies, Inc, Aspen Technology, Inc, Ariad Pharmaceuticals Inc, and Blackrock MuniYield California Insured Fund, 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 Eaton Vance Enhanced Equity Income Fund (EOI) remained unchanged at $10.67. In the past year, the shares have traded as low as $8.37 and as high as $10.85. On average, 127400 shares of EOI exchange hands on a given day and today's volume is recorded at 122935.

Shares of Concur Technologies, Inc (CNQR) fell by 0.53% or $-0.36/share to $67.54. In the past year, the shares have traded as low as $34.30 and as high as $69.89. On average, 742130 shares of CNQR exchange hands on a given day and today's volume is recorded at 261897.

Shares of Aspen Technology, Inc (AZPN) fell by 0.21% or $-0.05/share to $23.38. In the past year, the shares have traded as low as $12.61 and as high as $23.94. On average, 587310 shares of AZPN exchange hands on a given day and today's volume is recorded at 400810.

Shares of Ariad Pharmaceuticals Inc (ARIA) traded higher by 0.16% or $0.03/share to $19.13. In the past year, the shares have traded as low as $7.55 and as high as $19.17. On average, 3010830 shares of ARIA exchange hands on a given day and today's volume is recorded at 3424461.

Shares of Blackrock MuniYield California Insured Fund, Inc (MCA) traded higher by 1.16% or $0.19/share to $16.59. In the past year, the shares have traded as low as $11.86 and as high as $16.51. On average, 78280 shares of MCA exchange hands on a given day and today's volume is recorded at 124997.