These stocks, United Natural Foods, Inc, UIL Holdings Corporation, SemGroup Corporation, Pinnacle West Capital Corporation, and RBC Bearings Inc, have been showing multiple top patterns on April 7. Multiple tops are a reverse chart pattern where a stock is in a uptrend and hits a resistance level several times.After hitting resistance levels, the stock reverses and continues on a downward trend. As the stock is in a uptrend and hits the resistance level, the stock heads back down forming a swing top. As the downward trend loses steam, the stock heads back up again to the resistance level. This forms a top and when this happens more than 2 or 3 times its called a multiple top. Investors should pay attention to the resistance levels and should maybe consider shorting at these levels.
Shares of United Natural Foods, Inc (UNFI) traded higher by 0.24% or $0.11/share to $46.19. In the past year, the shares have traded as low as $32.83 and as high as $49.25. On average, 336400 shares of UNFI exchange hands on a given day and today's volume is recorded at 117576.
Shares of UIL Holdings Corporation (UIL) fell by 1.36% or $-0.47/share to $34.15. In the past year, the shares have traded as low as $27.91 and as high as $35.77. On average, 291420 shares of UIL exchange hands on a given day and today's volume is recorded at 331783.
Shares of SemGroup Corporation (SEMG) traded higher by 1.31% or $0.38/share to $29.33. In the past year, the shares have traded as low as $16.55 and as high as $30.13. On average, 298550 shares of SEMG exchange hands on a given day and today's volume is recorded at 409281.
Shares of Pinnacle West Capital Corporation (PNW) fell by 1.19% or $-0.57/share to $47.14. In the past year, the shares have traded as low as $36.46 and as high as $48.38. On average, 737430 shares of PNW exchange hands on a given day and today's volume is recorded at 933618.
Shares of RBC Bearings Inc (ROLL) fell by 0.37% or $-0.17/share to $45.47. In the past year, the shares have traded as low as $29.39 and as high as $48.05. On average, 85780 shares of ROLL exchange hands on a given day and today's volume is recorded at 85431.
