Nvidia Is 1 of 30 Well-Known Stocks That Look Ready to Abruptly Change Direction

These names are showing technical characteristics of either bullish or bearish reversal patterns.
Updated
Stocks quotes in this article: AAP, CHS, DIS, DRI, EAT, HOG, M, PIR, PLAY, VIAB, DF, DPS, MO, USFD, SN, NYCB, ABC, ESRX, MBT, BABA, BSX, ADSK, AMAT, DVMT, MU, NVDA, ON, TTWO, WDC, YELP

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. Please feel free to contact the author for further details.

Bullish Reversals:

Consumer Cyclicals: Advanced Auto Parts (AAP) , Chico's FAS (CHS) , Disney (DIS) , Darden Restaurants (DRI) , Brinker International (EAT) , Harley-Davidson (HOG) , Macy's (M) , Pier 1 Imports (PIR) , Dave & Buster's Entertainment (PLAY) , Viacom (VIAB)

Consumer Defensives: Dean Foods (DF) , Dr Pepper Snapple Group (DPS) , Altria Group (MO) , U.S. Foods Holding (USFD)

Energy: Sanchez Energy (SN)

Financial Services: New York Community Bancorp (NYCB)

Healthcare: AmerisourceBergen (ABC) , Express Scripts Holding (ESRX)

Bearish Reversals:

Communications Services: Public Joint-Stock Company Mobile TeleSystems (MBT)

Consumer Cyclicals: Alibaba Group (BABA)

Healthcare: Boston Scientific (BSX)

Technology: Autodesk (ADSK) , Applied Materials (AMAT) , Dell Technologies (DVMT) , Micron Technology (MU) , Nvidia (NVDA) , On Semiconductor (ON) , Take-Two Interactive (TTWO) , Western Digital (WDC) , Yelp Inc. (YELP)

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

Action Alerts PLUS, which Cramer co-manages as a charitable trust, is long NVDA.

TAGS: Investing | U.S. Equity | How-to | Stocks

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