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Saturday, March 24, 2012

Bullish Inverted Head and Shoulders Detected: (PCG), (SINA), (IVAN), (IFN), (IBN)

These stocks, PG&E Corp, Sina Corp, Ivanhoe Energy Inc, India Fund, Inc, and ICICI Bank Ltd, have been showing inverted head and shoulder patterns on March 24. The head and shoulders pattern resembles the upper part of a persons body. The seperating line between both shoulders is called the neckline. This pattern forms after a downtrend as opposed to a uptrend that can be seen in a normal head and shoulders pattern. Both shoulders are connected by a line called the neckline. Investors should look out for where the shoulders form and consider investing after the right shoulder as there is uptrend forming.

Shares of PG&E Corp (PCG) traded higher by 0.14% or $0.06/share to $43.39. In the past year, the shares have traded as low as $36.44 and as high as $45.21. On average, 2856470 shares of PCG exchange hands on a given day and today's volume is recorded at 9669182.

Shares of Sina Corp (SINA) fell by 1.60% or $-1.12/share to $69.03. In the past year, the shares have traded as low as $46.86 and as high as $147.12. On average, 5705100 shares of SINA exchange hands on a given day and today's volume is recorded at 3749589.

Shares of Ivanhoe Energy Inc (IVAN) traded higher by 4.08% or $0.04/share to $1.02. In the past year, the shares have traded as low as $0.72 and as high as $3.07. On average, 1075880 shares of IVAN exchange hands on a given day and today's volume is recorded at 763858.

Shares of India Fund, Inc (IFN) traded higher by 0.97% or $0.21/share to $21.93. In the past year, the shares have traded as low as $18.61 and as high as $32.76. On average, 277170 shares of IFN exchange hands on a given day and today's volume is recorded at 117313.

Shares of ICICI Bank Ltd (IBN) traded higher by 0.53% or $0.19/share to $35.81. In the past year, the shares have traded as low as $24.14 and as high as $50.82. On average, 2525610 shares of IBN exchange hands on a given day and today's volume is recorded at 1366519.