SmarTrend's Candlestick Scanner Detects Bullish Harami Pattern for Toreador Resources (TRGL)
Wednesday, March 17, 2010 - 08:42
Written on Wed, 03/17/2010 - 8:42am
By Chip Brian

SmarTrend's candlestick pattern scanner has detected a bullish harami candle pattern for shares of Toreador Resources (NASDAQ:TRGL).
Yesterday's real body is within the previous day's body and may imply that traders and investors believe that the recent move lower is exhausted.
A green candle today would confirm this trend reversal. Also, the narrower the green real body yesterday, the more reliable the harami.
Yesterday, this company traded 231,402 shares, versus the previous day's total volume of 516,542. Decreased volume also is an indicator that the selling pressure may have subsided.
SmarTrend issued a Downtrend alert on shares of Toreador Resources on February 05, 2010 at $9.93 per share (5.7% return since that call). This bullish candle pattern may point to a reversal of the previously called Downtrend.

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