SmarTrend's Candlestick Scanner Detects Bullish Engulfing Pattern for iShares iBoxx Investment Grade Corporate Bond Fund (LQD)

SmarTrend's candlestick pattern scanner has detected a bullish engulfing pattern for shares of iShares iBoxx Investment Grade Corporate Bond Fund LQD since the stock closed above $103.98.

Yesterday, this company traded 1,029,447 shares, versus the previous day's total volume of 693,557. Heavy volume increases the reliability of this bullish candlestick pattern.

SmarTrend issued an Uptrend alert on shares of iShares iBoxx Investment Grade Corporate Bond Fund on November 17, 2009 at $106.41 per share (2% retracement since that call). This bullish candle pattern may point to a continuation of the previously called Uptrend.

Write to Chip Brian at cbrian@tradethetrend.com

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