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Sunday, March 25, 2012

Stocks with Double Top Patterns: (AFB), (AMT), (MAV), (CIA), (MDVN)

These stocks, AllianceBernstein National Municipal Income Fund, Inc, American Tower Corporation, Pioneer Municipal High Income Advantage Trust, Citizens Inc, and Medivation, Inc, have been showing double top patterns on March 25. The double top pattern is found at the highest point of an upward trend. This signals that the upward trend is weakening and that buyers are losing interest. The start of the pattern is a new high during the upward trend and after this peak it faces resistance and is sold off to a level of support. The price then moves back to the resistance level. This sequence happens again and when the stock reaches its support level it will fall below that point, thus starting a downtrend. Investors should pay specific attention to the support and resistance levels, which will help them determine when to buy or sell the stock.

Shares of AllianceBernstein National Municipal Income Fund, Inc (AFB) fell by 0.95% or $-0.14/share to $14.64. In the past year, the shares have traded as low as $12.00 and as high as $15.47. On average, 70570 shares of AFB exchange hands on a given day and today's volume is recorded at 79064.

Shares of American Tower Corporation (AMT) fell by 0.37% or $-0.23/share to $61.75. In the past year, the shares have traded as low as $46.04 and as high as $64.55. On average, 3064620 shares of AMT exchange hands on a given day and today's volume is recorded at 3381825.

Shares of Pioneer Municipal High Income Advantage Trust (MAV) fell by 0.21% or $-0.03/share to $14.5. In the past year, the shares have traded as low as $11.38 and as high as $15.27. On average, 92150 shares of MAV exchange hands on a given day and today's volume is recorded at 53623.

Shares of Citizens Inc (CIA) traded higher by 2.32% or $0.23/share to $10.16. In the past year, the shares have traded as low as $5.96 and as high as $11.43. On average, 72430 shares of CIA exchange hands on a given day and today's volume is recorded at 62938.

Shares of Medivation, Inc (MDVN) fell by 0.19% or $-0.14/share to $73.27. In the past year, the shares have traded as low as $14.32 and as high as $76.65. On average, 791500 shares of MDVN exchange hands on a given day and today's volume is recorded at 326578.