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SmarTrend's Candlestick Scanner Detects Possible Bearish Engulfing Pattern for China Medicine (CHME)

Written on Wed, 06/23/2010 - 1:51pm
By Chip Brian

SmarTrend's candlestick pattern scanner has detected a potential bearish engulfing pattern for shares of China Medicine (NASDAQ:CHME) if the stock closes below $2.50 today.
Thus far today (2:55PM), this company has traded 1,600 shares, versus yesterday's total volume of 112,740. Heavy volume increases the reliability of this bearish candlestick pattern.
SmarTrend issued a Downtrend alert on shares of China Medicine on April 06, 2010 at $3.06 per share (19.9% return since that call). This bearish candle pattern may point to a continuation of the previously called Downtrend.

Keywords: Stock research report chart fundamental technical analysis

Ticker(s): CHME

Contact Chip Brian



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