SmarTrend's Candlestick Scanner Detects Bullish Engulfing Pattern for Randgold Resources (GOLD)
SmarTrend's candlestick pattern scanner has detected a bullish engulfing pattern for shares of Randgold Resources (NASDAQ: GOLD) since the stock closed above $71.07.
Yesterday, this company traded 1,842,215 shares, versus the previous day's total volume of 990,555. Heavy volume increases the reliability of this bullish candlestick pattern.
SmarTrend issued an Uptrend alert on shares of Randgold Resources on February 17, 2010 at $73.85 per share (3.5% 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
---------------------------------------------------------------------------------------------
SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.mysmartrend.com
Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.mysmartrend.com/signup
