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Saturday, April 7, 2012

Forming Downward Channel: (AGII), (XCO), (RBN), (PEG), (EA)

These stocks, Argo Group International Holdings, Ltd, EXCO Resources Inc, Robbins & Myers Inc, Public Service Enterprise Group Inc, and Electronic Arts Inc, have been showing downward channel patterns on April 7. This pattern is short-term bearish as the stock falls within the descending channel, but these patterns form long uptrends as a continuation pattern. The stock displays an downward tilt and is controlled by two parallel lines. The higher line connects two consecutive lower highs. The lower line connects two or more consecutive lower lows. As the price hits the lower line, it bounces up to the higher line which acts as a resistance line. Investors may want to watch out for a breakpoint as the stock will most likely hit a long-term up trend.

Shares of Argo Group International Holdings, Ltd (AGII) traded higher by 0.20% or $0.06/share to $29.48. In the past year, the shares have traded as low as $25.02 and as high as $33.14. On average, 73310 shares of AGII exchange hands on a given day and today's volume is recorded at 36398.

Shares of EXCO Resources Inc (XCO) fell by 1.71% or $-0.11/share to $6.32. In the past year, the shares have traded as low as $6.32 and as high as $20.72. On average, 6193800 shares of XCO exchange hands on a given day and today's volume is recorded at 3340865.

Shares of Robbins & Myers Inc (RBN) traded higher by 0.37% or $0.19/share to $52.18. In the past year, the shares have traded as low as $31.48 and as high as $55.52. On average, 579750 shares of RBN exchange hands on a given day and today's volume is recorded at 421426.

Shares of Public Service Enterprise Group Inc (PEG) fell by 1.66% or $-0.50/share to $29.71. In the past year, the shares have traded as low as $27.07 and as high as $34.70. On average, 3407610 shares of PEG exchange hands on a given day and today's volume is recorded at 5717438.

Shares of Electronic Arts Inc (EA) traded higher by 0.06% or $0.01/share to $16.27. In the past year, the shares have traded as low as $16.05 and as high as $26.13. On average, 8380340 shares of EA exchange hands on a given day and today's volume is recorded at 3734448.