Stocks That Are Changing Direction

These charts are showing bullish or bearish reversals.
Stocks quotes in this article: BCE, AOBC, SAVE, MT, ORC, DISH, SNI, WRK, AXP, BAC, BCS, CS, JPM, PRU, RF, ABT, INCY, LLY, FAST, HON, PWR, AMD, AVGO, INFY

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 

Communication services: BCE (BCE)

Industrials: American Outdoor Brands (AOBC) , Spirit Airlines (SAVE)  

Real estate: Orchid Island Capital (ORC)

Bearish reversals: 

Basic materials: ArcelorMittal (MT)

Communication services: DISH Network (DISH)  

Consumer cyclical: Scripps Networks Interactive (SNI) , Westrock (WRK)

Financial services: American Express (AXP) , Bank of America (BAC) , Barclays (BCS) , Credit Suisse (CS) , JPMorgan (JPM) , Prudential Financial (PRU) , Regions Financial (RF)  

Health care: Abbott Labs (ABT) , Incyte (INCY) , Lilly (LLY)

Industrials: Fastenal (FAST) , Honeywell (HON) , Quanta Services (PWR)

Technology: Advanced Micro Devices (AMD) , Broadcom (AVGO) , Infosys (INFY)

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

TAGS: Investing | U.S. Equity | Transportation | Financial Services | Healthcare | Technology | Basic Materials | Telecom Services | Markets | Consumer

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