Bullish and Bearish Reversals for This Week

Energy and materials names dominate the bearish ledger.
Stocks quotes in this article: PENN, PPC, INFY, BHP, SLCA, CXO, FMSA, MRC, PBR, ARCC, TD, FNSR

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.

Bullish Reversals:

Consumer Cyclicals: Penn National Gaming (PENN)

Consumer Defensives: Pilgrim's Pride (PPC)

Technology: Infosys (INFY)

Bearish Reversals:

Basic Materials: BHP Billiton (BHP) , U.S. Silica Holdings (SLCA)

Energy: Concho Resources (CXO) , Fairmount Santrol Holdings (FMSA) , MRC Global (MRC) , Petróleo Brasileiro (PBR)

Financial Services: Ares Capital (ARCC) , Toronto-Dominion Bank (TD)

Technology: Finisar (FNSR)

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

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

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