Bullish and Bearish Reversals for the Week

Technology stocks dominate the bearish ledger this week.
Stocks quotes in this article: KR, PGR, HCA, LUV, CHTR, NWSA, P, PAG, UL, ABBV, AGEN, ILMN, MDT, DOV, TRN, ACIA, AMAT, AMBA, BOX, CIEN, DDD, FTNT, OCLR, STX, VEEV

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 Defensives: Kroger (KR)

Financial Services: Progressive (PGR)

Health Care: HCA Holdings (HCA)

Industrials: Southwest Airlines (LUV)

Bearish Reversals:

Communication Services: Charter Communications (CHTR)

Consumer Cyclicals: News Corp. (NWSA) , Pandora Media (P) , Penske Automotive Group (PAG)

Consumer Defensive: Unilever (UL)

Health Care: AbbVie (ABBV) , Agenus (AGEN) , Illumina (ILMN) , Medtronic (MDT)

Industrials: Dover (DOV) , Trinity Industries (TRN)

Technology: Acacia Communications (ACIA) , Applied Materials (AMAT) , Ambarella (AMBA) , Box (BOX) , Ciena (CIEN) , 3D Systems (DDD) , Fortinet (FTNT) , Oclaro (OCLR) , Seagate Technology (STX) , Veeva Systems (VEEV)

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

TAGS: Investing | U.S. Equity | Stocks

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