SmarTrend's Candlestick Scanner Detects Bearish Engulfing Pattern for Allied World Assurance (AWH)
Thursday, March 4, 2010 - 09:45
Written on Thu, 03/04/2010 - 9:45am
By Chip Brian

SmarTrend's candlestick pattern scanner has detected a bearish engulfing pattern for shares of Allied World Assurance (NYSE:AWH) since the stock closed below $46.31.
Yesterday, this company traded 169,812 shares, versus the previous day's total volume of 221,092. Heavy volume increases the reliability of this bearish candlestick pattern.
SmarTrend issued a Downtrend alert on shares of Allied World Assurance on December 17, 2009 at $45.63 per share (1.2% retracement since that call). This bearish candle pattern may point to a continuation of the previously called Downtrend.

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