Bullish and Bearish Reversals for the Week

Materials, financials, cyclicals and health care names tilt the scale to the bullish side.
Stocks quotes in this article: CE, CF, STLD, X, FOXA, HAS, HOG, RAI, AXP, BK, SYF, ALKS, THC, UNH, DHR, ERJ, VRSN, EBAY, PG, RICE, PTCT, INTC

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:

Basic Materials: Celanese (CE) , CF Industries (CF) , Steel Dynamics (STLD) , United States Steel (X)

Consumer Cyclicals: Twenty-First Century Fox (FOXA) , Hasbro (HAS) , Harley-Davidson (HOG)

Consumer Defensives: Reynolds American (RAI)

Financial Services: American Express (AXP) , Bank of New York Mellon (BK) , Synchrony Financial (SYF)

Health Care: Alkermes (ALKS) , Tenet Healthcare (THC) , UnitedHealth (UNH)

Industrials: Danaher (DHR) , Embraer (ERJ)

Technology: Verisign (VRSN)

Bearish Reversals:

Consumer Cyclicals: eBay (EBAY)

Consumer Defensives: Procter & Gamble (PG)

Energy: Rice Energy (RICE)

Healthcare: PTC Therapeutics (PTCT)

Technology: Intel (INTC)

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

TAGS: Investing | U.S. Equity

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