Below is a list of names for those charts we feel are showing technical characteristics of either bullish or bearish reversal patterns that occurred over the past week. Bullish reversals imply institutional accumulation and the potential for higher prices. Bearish reversals imply institutional distribution and the potential for lower prices. Each group is listed by sector affiliation. Please feel free to contact the author for further details.
Bullish Reversals
Basic materials: H-Crush Partners (HCLP)
Energy: Anadarko Petroleum (APC) , Diamond Offshore (DO) , Devon (DVN) , Nabors Industries (NBR) , Oasis Petroleum (OAS) , Occidental Petroleum (OXY) , Schlumberger (SLB) , Whiting Petroleum (WLL) , Extraction Oil & Gas (XOG)
Bearish Reversals
Consumer cyclical: Amazon (AMZN) , Carnival (CCL) , Yum Brands (YUM)
Consumer defensive: PepsiCo (PEP)
Healthcare: Incyte (INCY)
Technology: Broadcom (AVGO)
At the time of publication, Ortmann had no positions in the stocks mentioned.