SmarTrend's Candlestick Scanner Detects Bearish Harami Pattern for Cabot Oil & Gas (COG)
Friday, March 12, 2010 - 08:37
Written on Fri, 03/12/2010 - 8:37am
By Chip Brian

SmarTrend's candlestick pattern scanner has detected a bearish harami candle pattern for shares of Cabot Oil & Gas (NYSE:COG).
Yesterday's real body is within the previous day's body and may imply that traders and investors believe that the recent uptrend may be nearing an end.
A move down today would confirm this trend reversal. Also, the narrower the red body yesterday, the more reliable the harami.
Yesterday, this company traded 926,177 shares, versus the previous day's total volume of 1,896,857. Decreased volume also is an indicator that the buying momentum may have subsided.
SmarTrend issued an Uptrend alert on shares of Cabot Oil & Gas on February 22, 2010 at $41.95 per share (1.6% retracement since that call). This bearish candle pattern may point to a reversal of the previously called Uptrend.

Keywords: Stock research report chart fundamental technical analysis

Ticker(s): COG

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.