• Return to Headlines

SmarTrend's Candlestick Scanner Detects Possible Bearish Harami Pattern for Ameris Bancorp (ABCB)

Written on Mon, 06/28/2010 - 1:54pm
By Chip Brian

SmarTrend's candlestick pattern scanner has detected a potential bearish harami candle pattern for shares of Ameris Bancorp (NASDAQ:ABCB).
Today's real body is within yesterday's body and may imply that traders and investors believe that the recent uptrend may be nearing an end.
A move down tomorrow would confirm this trend reversal. Also, the narrower the red body today, the more reliable the harami.
Thus far today (2:58PM), this company has traded 116,569 shares, versus Friday's total volume of 741,400. Decreased volume also is an indicator that the buying momentum may have subsided.
SmarTrend issued a Downtrend alert on shares of Ameris Bancorp on June 24, 2010 at $9.94 per share (3.8% retracement 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): ABCB

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.