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Monday, November 19, 2012

Ruby Tuesday, Inc, Telecom Italia SpA, Vanguard Health Systems Inc, and Ryland Group Inc, have been showing double bottom patterns

(VLCCF), (RT), (TI), (VHS), (RYL)

These stocks, Knightsbridge Tankers Limited, Ruby Tuesday, Inc, Telecom Italia SpA, Vanguard Health Systems Inc, and Ryland Group Inc, have been showing double bottom patterns on December 4. The double bottom pattern is found at the lowest point of an downward trend. This signals that the downward trend is weakening and that buyers are gaining interest. The start of the pattern is a new low during the downward trend and after this point it finds support which stops the stock from falling further. Once it has found support, it rises to a new resistance level. This sequence happens again and when the stock reaches its support level it will rise to the resistance level again, thus starting an uptrend. The stock needs to break out from the support level so it can rise further. High volume will validate a breakout. 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 Knightsbridge Tankers Limited (VLCCF) traded higher by 4.00% or $0.60/share to $15.6. In the past year, the shares have traded as low as $14.62 and as high as $23.90. On average, 137250 shares of VLCCF exchange hands on a given day and today's volume is recorded at 125730.

Shares of Ruby Tuesday, Inc (RT) traded higher by 1.80% or $0.13/share to $7.36. In the past year, the shares have traded as low as $6.35 and as high as $15.57. On average, 583870 shares of RT exchange hands on a given day and today's volume is recorded at 320695.

Shares of Telecom Italia SpA (TI) fell by 0.62% or $-0.07/share to $11.24. In the past year, the shares have traded as low as $9.74 and as high as $15.20. On average, 510060 shares of TI exchange hands on a given day and today's volume is recorded at 399657.

Shares of Vanguard Health Systems Inc (VHS) fell by 5.39% or $-0.57/share to $10.0. In the past year, the shares have traded as low as $8.61 and as high as $18.58. On average, 414310 shares of VHS exchange hands on a given day and today's volume is recorded at 395205.

Shares of Ryland Group Inc (RYL) traded higher by 0.26% or $0.04/share to $15.24. In the past year, the shares have traded as low as $9.12 and as high as $19.16. On average, 1481830 shares of RYL exchange hands on a given day and today's volume is recorded at 940319.




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