SmarTrend's Candlestick Scanner Detects Bearish Engulfing Pattern for Vanguard Mega Cap 300 Growth ETF (MGK)
SmarTrend's candlestick pattern scanner has detected a bearish engulfing pattern for shares of Vanguard Mega Cap 300 Growth ETF (NYSE: MGK) since the stock closed below $40.63.
Yesterday, this company traded 357,592 shares, versus the previous day's total volume of 54,271. Heavy volume increases the reliability of this bearish candlestick pattern.
SmarTrend issued an Uptrend alert on shares of Vanguard Mega Cap 300 Growth ETF on November 11, 2009 at $40.99 per share (1.3% retracement 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
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