SmarTrend's Candlestick Scanner Detects Bearish Engulfing Pattern for AK Steel Holding (AKS)
SmarTrend's candlestick pattern scanner has detected a bearish engulfing pattern for shares of AK Steel Holding (NYSE: AKS) since the stock closed below $23.41.
Friday, this company traded 8,493,552 shares, versus the previous day's total volume of 6,553,739. Heavy volume increases the reliability of this bearish candlestick pattern.
SmarTrend issued an Uptrend alert on shares of AK Steel Holding on February 17, 2010 at $22.93 per share (1.3% return since that call). This bearish candle pattern may point to a reversal of the previously called Uptrend.
Write to Chip Brian at cbrian@tradethetrend.com
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