SmarTrend's Candlestick Scanner Detects Bearish Harami Pattern for Delek US Holdings (DK)
Friday, March 12, 2010 - 09:49
Written on Fri, 03/12/2010 - 9:49am
By Chip Brian

SmarTrend's candlestick pattern scanner has detected a bearish harami candle pattern for shares of Delek US Holdings (NYSE:DK).
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 106,548 shares, versus the previous day's total volume of 140,753. Decreased volume also is an indicator that the buying momentum may have subsided.
SmarTrend issued an Uptrend alert on shares of Delek US Holdings on March 04, 2010 at $7.88 per share (1.6% return since that call). This bearish candle pattern may point to a reversal of the previously called Uptrend.

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.