Bullish and Bearish Reversals for the Week

Consumer cyclical and defensive names are showing bearish characteristics.
Stocks quotes in this article: CSTM, CCI, CHS, ANF, GPS, HRB, LULU, COST, CPB, HSY, TASR

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.

Bullish Reversals:

Basic Materials: Constellium (CSTM)

Communication Services: Crown Castle International (CCI)

Consumer Cyclicals: Chico's FAS (CHS)

Bearish Reversals:

Consumer Cyclicals: Abercrombie & Fitch (ANF) , Gap (GPS) , H&R Block (HRB) , lululemon athletica (LULU)

Consumer Defensives: Costco Wholesale (COST) , Campbell Soup (CPB) , Hershey (HSY)

Industrials: TASER International (TASR)

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

Action Alerts PLUS, which Jim Cramer co-manages as a charitable trust, is long COST.

TAGS: Investing | U.S. Equity | Stocks

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