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Wednesday, September 19, 2012

Bearish Wedge Pattern Detected: (ARB), (PES), (CBD), (BDN), (AFB)

Upward wedge patterns have been noticed on September 19 for the stocks Arbitron Inc, Pioneer Energy Services Corp, Companhia Brasileira de Distribuicao, Brandywine Realty Trust, and AllianceBernstein National Municipal Income 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 Arbitron Inc (ARB) fell by 0.29% or $-0.11/share to $38.08. In the past year, the shares have traded as low as $32.06 and as high as $42.22. On average, 102610 shares of ARB exchange hands on a given day and today's volume is recorded at 102764.

Shares of Pioneer Energy Services Corp (PES) fell by 2.27% or $-0.20/share to $8.63. In the past year, the shares have traded as low as $5.83 and as high as $12.17. On average, 719480 shares of PES exchange hands on a given day and today's volume is recorded at 444015.

Shares of Companhia Brasileira de Distribuicao (CBD) fell by 0.43% or $-0.19/share to $43.58. In the past year, the shares have traded as low as $29.77 and as high as $49.61. On average, 398620 shares of CBD exchange hands on a given day and today's volume is recorded at 160168.

Shares of Brandywine Realty Trust (BDN) fell by 0.71% or $-0.09/share to $12.65. In the past year, the shares have traded as low as $6.50 and as high as $12.98. On average, 1460850 shares of BDN exchange hands on a given day and today's volume is recorded at 772463.

Shares of AllianceBernstein National Municipal Income Fund, Inc (AFB) traded higher by 0.42% or $0.07/share to $16.16. In the past year, the shares have traded as low as $12.70 and as high as $16.10. On average, 67920 shares of AFB exchange hands on a given day and today's volume is recorded at 46847.