Bullish and Bearish Reversals for the Week

These stocks are indicating a change in direction.
Stocks quotes in this article: GOLD, SSRI, MJN, DPLO, AGN, ABT, DATA, INFN, MDU, NUE, IP, ATW, CNX, MET, AMTD, EW, UPS

Below is a list of names for those charts we feel 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: Randgold Resources (GOLD) , Silver Standard Resources (SSRI)

Consumer defensive: Mead Johnson Nutrition (MJN)  

Health care: Abbott Labs (ABT) , Allergan (AGN) , Diplomat Pharmacy (DPLO)

Technology: Tableau Software (DATA) , Infinera (INFN)

Bearish Reversals 

Basic materials: MDU Resources (MDU) , Nucor (NUE)

Consumer cyclical: International Paper (IP)

Energy: Atwood Oceanics (ATW) , Consol Energy (CNX)

Financial services: TD Ameritrade (AMTD) , MetLife (MET)

Health care: Edwards Lifesciences (EW)  

Industrial: United Parcel Service (UPS)

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

TAGS: Investing | U.S. Equity | Energy | Healthcare | Basic Materials | Consumer | Stocks

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