Going From Bullish to Bearish, or Vice Versa

These stocks have changed direction.
Stocks quotes in this article: CMC, CAKE, WU, STX, IBM, UL, JBL

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 

Basic materials: Commercial Metals (CMC)

Consumer cyclical: Cheesecake Factory (CAKE)

Financial Services: Western Union (WU)

Technology: IBM (IBM) , Seagate Technology (STX)

Bearish Reversals 

Consumer defensive: Unilever (UL)

Technology: Jabil (JBL)

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

TAGS: Investing | U.S. Equity | Consumer Staples | Basic Materials | Technology | Markets | Consumer | Stocks

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