SmarTrend's Candlestick Scanner Detects Bearish Engulfing Pattern for iShares MSCI EAFE Growth Index (EFG)
SmarTrend's candlestick pattern scanner has detected a bearish engulfing pattern for shares of iShares MSCI EAFE Growth Index (NYSE: EFG) since the stock closed below $53.41.
Yesterday, this company traded 530,280 shares, versus the previous day's total volume of 143,370. Heavy volume increases the reliability of this bearish candlestick pattern.
SmarTrend issued a Downtrend alert on shares of iShares MSCI EAFE Growth Index on January 26, 2010 at $54.26 per share (1.9% 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
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