SmarTrend's Candlestick Scanner Detects Bullish Inside Day Pattern for PowerShares FTSE RAFI Developed Markets ex-U.S. Portfolio (PXF)

SmarTrend's candlestick pattern scanner detected a bullish inside day candle pattern for shares of PowerShares FTSE RAFI Developed Markets ex-U.S. Portfolio PXF. Friday's price range of 37.07 and 37.48 is within the previous day's price range.

This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend.

Traders and investors interested in shares of PowerShares FTSE RAFI Developed Markets ex-U.S. Portfolio may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

SmarTrend issued an Uptrend alert on shares of PowerShares FTSE RAFI Developed Markets ex-U.S. Portfolio on March 10, 2010 at $37.55 per share (1% 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

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