SmarTrend's Candlestick Scanner Detects Bearish Inside Day Pattern for Harvest Natural Resources (HNR)

SmarTrend's candlestick pattern scanner detected a bearish inside day candle pattern for shares of Harvest Natural Resources (NYSE: HNR). Friday's price range of 4.92 and 5.14 is within the previous day's price range.

This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend.

Owners of Harvest Natural Resources may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

SmarTrend issued a Downtrend alert on shares of Harvest Natural Resources on December 17, 2009 at $5.00 per share (2.2% retracement since that call). This bearish candle pattern may point to a continuation of the previously called Downtrend.

Write to Chip Brian at cbrian@tradethetrend.com

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