SmarTrend's Candlestick Scanner Detects Bullish Harami Pattern for Cardinal Health (CAH)
SmarTrend's candlestick pattern scanner has detected a bullish harami candle pattern for shares of Cardinal Health (NYSE: CAH).
Yesterday's real body is within the previous day's body and may imply that traders and investors believe that the recent move lower is exhausted.
A green candle yesterday would confirm this trend reversal. Also, the narrower the green real body yesterday, the more reliable the harami.
Yesterday, this company traded 3,648,239 shares, versus the previous day's total volume of 3,072,872. Decreased volume also is an indicator that the selling pressure may have subsided.
SmarTrend issued an Uptrend alert on shares of Cardinal Health on July 29, 2009 at $24.18 per share (37.6% return 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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