Amazon and Bank of America Are 2 of 16 Stocks Poised to Change Direction

These names are displaying signs of either bullish or bearish reversal patterns over the past week.
Stocks quotes in this article: SSRM, EQR, AEE, AEP, CMS, BTU, AMZN, CZR, LYV, MAR, BAC, ABBV, ADVM, CAVM, MRVL, YY

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: SSR Mining (SSRM)

Real Estate: Equity Residential (EQR)

Utilities: Ameren Corp. (AEE) , American Electric Power (AEP) , CMS Energy (CMS)

Bearish Reversals:

Basic Materials: Peabody Energy (BTU)

Consumer Cyclicals: Amazon (AMZN) , Caesars Entertainment (CZR) , Live Nation Entertainment (LYV) , Marriott International (MAR)

Financial Services: Bank of America (BAC)

Healthcare: AbbVie (ABBV) , Adverum Biotechnologies (ADVM)

Technology: Cavium (CAVM) , Marvell Technology (MRVL) , YY Inc. (YY)

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

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

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