SmarTrend's Candlestick Scanner Detects Bullish Engulfing Pattern for Cia Energetica de Minas Gerais (CIG)
Friday, February 26, 2010 - 09:45
Written on Fri, 02/26/2010 - 9:45am
By Chip Brian

SmarTrend's candlestick pattern scanner has detected a bullish engulfing pattern for shares of Cia Energetica de Minas Gerais (NYSE:CIG) since the stock closed above $16.23.
Yesterday, this company traded 2,599,438 shares, versus the previous day's total volume of 1,704,896. Heavy volume increases the reliability of this bullish candlestick pattern.
SmarTrend issued a Downtrend alert on shares of Cia Energetica de Minas Gerais on January 15, 2010 at $17.17 per share (3.7% return since that call). This bullish candle pattern may point to a reversal of the previously called Downtrend.

Contact Chip Brian
Smartrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.mysmartrend.com.

Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at http://www.mysmartrend.com/morning-call-newsletter-signup.