SmarTrend's Candlestick Scanner Detects Bearish Engulfing Pattern for Blue Coat Systems (BCSI)
SmarTrend's candlestick pattern scanner has detected a bearish engulfing pattern for shares of Blue Coat Systems (NASDAQ: BCSI) since the stock closed below $31.81.
Friday, this company traded 961,061 shares, versus the previous day's total volume of 498,950. Heavy volume increases the reliability of this bearish candlestick pattern.
SmarTrend issued an Uptrend alert on shares of Blue Coat Systems on February 16, 2010 at $27.16 per share (16.5% 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
---------------------------------------------------------------------------------------------
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
