SmarTrend's Candlestick Scanner Detects Bearish Dark Cloud Cover Pattern for Inergy (NRGY)
Thursday, March 4, 2010 - 09:35
Written on Thu, 03/04/2010 - 9:35am
By Chip Brian

SmarTrend's candlestick pattern scanner has detected a bearish Dark Cloud Cover candle pattern for shares of Inergy (NASDAQ:NRGY).
Yesterday, the stock gapped up, but then encountered selling pressure that pushed the stock lower.
Yesterday, this company traded 433,333 shares, versus the previous day's total volume of 282,248. This bearish candle is more reliable if the gap up occurs at resistance and is accompanied by a surge in volume.
SmarTrend issued an Uptrend alert on shares of Inergy on February 19, 2010 at $35.91 per share (1.4% return since that call). This bearish candle pattern may point to a reversal of the previously called Uptrend.

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