Bullish and Bearish Reversals in the Market

 | Nov 07, 2016 | 12:16 PM EST
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Stock quotes in this article:

ccj

,

nue

,

ely

,

lgf

,

syy

,

cno

,

adp

,

car

,

swhc

,

utx

,

sq

,

msi

,

axl

,

kar

,

baba

,

wynn

,

abev

,

hlf

,

khc

,

alj

,

nfx

,

wpz

,

endp

,

atvi

,

FB

,

grub

,

yy

Here is a list of names for those charts we feel are showing technical characteristics of either bullish or bearish reversal patterns 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: Cameco (CCJ) , Nucor (NUE)  

Consumer cyclical: Callaway Golf (ELY) , Lions Gate Entertainment (LGF)  

Consumer defensive: Bunge BG, Sysco (SYY)  

Financial services: CNO Financial Group (CNO)

Industrials: Automatic Data Processing (ADP) , Avis Budget Group (CAR) , Smith & Wesson (SWHC) , United Technologies (UTX)

Technology: Motorola Solutions (MSI) , Square (SQ)

Bearish Reversals 

Consumer cyclical: American Axle & Manufacturing (AXL) , Alibaba (BABA) , KAR Auction Services (KAR) , Wynn Resorts (WYNN)

Consumer defensive: Ambev S.A. American Depositary Shares (ABEV) , Herbalife (HLF) , Kraft Heinz (KHC)

Energy: Alon USA Energy (ALJ) , Newfield Exploration (NFX) , Williams Partners (WPZ)

Health care: Endo International (ENDP)

Technology: Activision Blizzard (ATVI) , Facebook (FB) , GrubHub (GRUB) , YY (YY)

Columnist Conversations

View Chart »  View in New Window » BA chart I'm STALKING this one for a buy trigger........
View Chart »  View in New Window »   WEEKLY
BABA is still dancing on key weekly support here.  Wait for a trigger! View Chart »  Vi...
BABA is still dancing on key weekly support here.  Wait for a trigger! View Chart »  Vi...

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