SmarTrend's Candlestick Scanner Detects Bullish Harami Pattern for RadioShack (RSH)
SmarTrend's candlestick pattern scanner has detected a bullish harami candle pattern for shares of RadioShack (NYSE: RSH).
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 today, the more reliable the harami.
Friday, this company traded 2,341,221 shares, versus the previous day's total volume of 2,464,587. Decreased volume also is an indicator that the selling pressure may have subsided.
SmarTrend issued an Uptrend alert on shares of RadioShack on June 11, 2009 at $14.97 per share (30.4% return since that call). This bullish candle pattern may point to a continuation of the previously called Uptrend.
Write to Chip Brian at [email protected]
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