9 Stocks, Including Shake Shack, Poised to Change Direction

These names are showing signs of either bullish or bearish reversal patterns.
Stocks quotes in this article: S, SCG, SJM, ALL, CGNX, MDRX, STLD, SHAK, BKD

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:

Communication Services: Sprint Corp. (S) , Scana Corp. (SCG)

Consumer Defensives: J.M. Smucker Co. (SJM)

Financial Services: Allstate Corp. (ALL)

Technology: Cognex Corp. (CGNX) , Allscripts Healthcare Solutions (MDRX)

Bearish Reversals:

Basic Materials: Steel Dynamics (STLD)

Consumer Cyclicals: Shake Shack (SHAK)

Healthcare: Brookdale Senior Living (BKD)

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

TAGS: Investing | U.S. Equity | Markets | Stocks

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