SmarTrend's Candlestick Scanner Detects Bearish Engulfing Pattern for Vivo Participacoes (VIV)
SmarTrend's candlestick pattern scanner has detected a bearish engulfing pattern for shares of Vivo Participacoes (NYSE: VIV) since the stock closed below $27.81.
Yesterday, this company traded 955,626 shares, versus the previous day's total volume of 1,123,043. Heavy volume increases the reliability of this bearish candlestick pattern.
SmarTrend issued a Downtrend alert on shares of Vivo Participacoes on February 04, 2010 at $28.14 per share (1.7% return 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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