SmarTrend's candlestick pattern scanner has detected a bearish Dark Cloud Cover candle pattern for shares of Sirius XM Radio SIRI.
Yesterday, the stock gapped up, but then encountered selling pressure that pushed the stock lower.
Yesterday, this company traded 121,437,895 shares, versus the previous day's total volume of 123,971,923. This bearish candle is more reliable if the gap up occurs at resistance and is accompanied by a surge in volume.
SmarTrend issued an Uptrend alert on shares of Sirius XM Radio on April 14, 2010 at $1.04 per share (10.1% 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
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.