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)

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

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

TAGS: Investing | U.S. Equity | Stocks

More from Investing

Smartphone Demand Appears to Be Getting Hit Hard

Eric Jhonsa

With retail stores shut and many consumers viewing smartphone upgrades as discretionary purchases, signs are mounting that smartphone demand has fallen sharply in recent weeks.

Unpopular Opinion: Copper Will Soon Be a Better Buy Than a Sell

Carley Garner

Where there is pain there is also opportunity.

Don't Fear: You Won't Miss Out

James "Rev Shark" DePorre

Many people just can't resist the temptation of buying weakness as they are fooled into thinking it's a bargain, but there's no rush to buy anything right now.

FedEx Remains a Stock to Avoid for Now

Bruce Kamich

Here's why.

Canadian Cannabis Firms Addressing Illegal Markets

Debra Borchardt

These companies initially seemed to believe that regulators and law enforcement would drive out the illicit market dealers. That hasn't happened.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight