SmarTrend's Candlestick Scanner Detects Bullish Engulfing Pattern for Praxair (PX)
SmarTrend's candlestick pattern scanner has detected a bullish engulfing pattern for shares of Praxair (NYSE: PX) since the stock closed above $76.32.
Friday, this company traded 3,305,841 shares, versus the previous day's total volume of 1,658,348. Heavy volume increases the reliability of this bullish candlestick pattern.
SmarTrend issued a Downtrend alert on shares of Praxair on January 27, 2010 at $76.61 per share (0.4% retracement since that call). This bullish candle pattern may point to a reversal of the previously called Downtrend.
Write to Chip Brian at cbrian@tradethetrend.com
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