8 Stocks That Are Ready to Change Direction

These names are showing either bullish or bearish reversal patterns.
Stocks quotes in this article: AKS, ESV, FET, HES, PAA, LB, PLD, PEG

Below is a list of names for those charts we believe are showing technical characteristics of either bullish or bearish reversal patterns that occurred over the past week.

Bullish reversals imply institutional accumulation and the potential for higher prices. Bearish reversals imply institutional distribution and the potential for lower prices.

Each group is listed by sector affiliation. Please feel free to contact the author for further details.

Bullish Reversals:

Basic Materials: AK Steel Holding (AKS)

Energy: Ensco plc (ESV) , Forum Energy Technologies (FET) , Hess Corp. (HES) , Plains All American Pipeline (PAA)

Bearish Reversals:

Consumer Cyclicals: L Brands (LB)

Real Estate: Prologis (PLD)

Utilities: Public Service Enterprise Group (PEG)

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At the time of publication, Ortmann had no positions in any securities mentioned.

TAGS: Investing | U.S. Equity | How-to

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