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SmarTrend's Candlestick Scanner Detects Bullish Engulfing Pattern for iShares FTSE NAREIT Real Estate 50 Index Fund (FTY)

Written on Tue, 05/04/2010 - 7:34am
By Chip Brian

SmarTrend's candlestick pattern scanner has detected a bullish engulfing pattern for shares of iShares FTSE NAREIT Real Estate 50 Index Fund (NYSE:FTY) since the stock closed above $32.58.
Yesterday, this company traded 131,810 shares, versus the previous day's total volume of 3,905. Heavy volume increases the reliability of this bullish candlestick pattern.
SmarTrend issued an Uptrend alert on shares of iShares FTSE NAREIT Real Estate 50 Index Fund on February 19, 2010 at $27.22 per share (19.9% return since that call). This bullish candle pattern may point to a continuation of the previously called Uptrend.

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