SmarTrend's Candlestick Scanner Detects Bearish Dark Cloud Cover Pattern for FPL Group (FPL)
SmarTrend's candlestick pattern scanner has detected a bearish Dark Cloud Cover candle pattern for shares of FPL Group (NYSE: FPL).
Friday, the stock gapped up, but then encountered selling pressure that pushed the stock lower.
Friday, this company traded 2,512,955 shares, versus the previous day's total volume of 2,991,479. This bearish candle is more reliable if the gap up occurs at resistance and is accompanied by a surge in volume.
SmarTrend issued a Downtrend alert on shares of FPL Group on January 12, 2010 at $51.61 per share (8.8% 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
---------------------------------------------------------------------------------------------
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
