SmarTrend's Candlestick Scanner Detects Bullish Harami Pattern for NET Servicos de Comunicacao (NETC)

SmarTrend's candlestick pattern scanner has detected a bullish harami candle pattern for shares of NET Servicos de Comunicacao NETC.

Friday's real body is within the previous day's body and may imply that traders and investors believe that the recent move lower is exhausted.

A green candle today would confirm this trend reversal. Also, the narrower the green real body yesterday, the more reliable the harami.

Friday, this company traded 1,149,168 shares, versus the previous day's total volume of 757,058. Decreased volume also is an indicator that the selling pressure may have subsided.

SmarTrend issued an Uptrend alert on shares of NET Servicos de Comunicacao on March 02, 2010 at $12.98 per share (3.4% 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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