These stocks, Arch Capital Group Ltd, Schweitzer-Mauduit International Inc, American Water Works Company, Inc, Acuity Brands, Inc, and Pebblebrook Hotel Trust, 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 Arch Capital Group Ltd (ACGL) traded higher by 0.51% or $0.19/share to $37.39. In the past year, the shares have traded as low as $30.07 and as high as $38.60. On average, 607670 shares of ACGL exchange hands on a given day and today's volume is recorded at 323129.
Shares of Schweitzer-Mauduit International Inc (SWM) traded higher by 0.23% or $0.16/share to $69.15. In the past year, the shares have traded as low as $46.79 and as high as $74.35. On average, 121880 shares of SWM exchange hands on a given day and today's volume is recorded at 64028.
Shares of American Water Works Company, Inc (AWK) fell by 0.41% or $-0.14/share to $33.81. In the past year, the shares have traded as low as $24.83 and as high as $34.67. On average, 903220 shares of AWK exchange hands on a given day and today's volume is recorded at 748655.
Shares of Acuity Brands, Inc (AYI) fell by 1.84% or $-1.06/share to $56.44. In the past year, the shares have traded as low as $32.96 and as high as $64.82. On average, 353070 shares of AYI exchange hands on a given day and today's volume is recorded at 732417.
Shares of Pebblebrook Hotel Trust (PEB) traded higher by 1.16% or $0.26/share to $22.75. In the past year, the shares have traded as low as $13.73 and as high as $23.63. On average, 452700 shares of PEB exchange hands on a given day and today's volume is recorded at 341480.
