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SmarTrend's Candlestick Scanner Detects Bullish Engulfing Pattern for Encore Acquisition (EAC)

Written on Thu, 05/13/2010 - 6:43am
By Chip Brian

SmarTrend's candlestick pattern scanner has detected a bullish engulfing pattern for shares of Encore Acquisition (NYSE:EAC) since the stock closed above $0.00.
Yesterday, this company traded 155,558 shares, versus the previous day's total volume of 0. Heavy volume increases the reliability of this bullish candlestick pattern.
SmarTrend issued a Downtrend alert on shares of Encore Acquisition on May 12, 2010 at $35.36 per share (1.7% retracement since that call). This bullish candle pattern may point to a reversal of the previously called Downtrend.

Keywords: Stock research report chart fundamental technical analysis

Ticker(s): EAC

Contact Chip Brian



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