SmarTrend's candlestick pattern scanner has detected a bearish engulfing pattern for shares of UQM Technologies (AMEX:UQM) since the stock closed below $5.90.

Yesterday, this company traded 351,741 shares, versus the previous day's total volume of 169,587. Heavy volume increases the reliability of this bearish candlestick pattern.

SmarTrend issued an Uptrend alert on shares of UQM Technologies on December 22, 2009 at $5.82 per share (0.7% return since that call). This bearish candle pattern may point to a reversal of the previously called Uptrend.

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