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SmarTrend's Candlestick Scanner Detects Possible Bullish Piercing Line Pattern for Concur Technologies (CNQR)

Written on Thu, 07/29/2010 - 3:00pm
By Chip Brian

SmarTrend's candlestick pattern scanner has detected a potential bullish Piercing Line candle pattern for shares of Concur Technologies (NASDAQ:CNQR).
Today, the stock gapped down, but then encountered bargain hunters that pushed the stock higher.
Thus far today (3:04PM), this company has traded 893,315 shares, versus yesterday's total volume of 456,400. This bullish candle is more reliable if the gap down occurs at support and is accompanied by a surge in volume.
SmarTrend issued an Uptrend alert on shares of Concur Technologies on July 21, 2010 at $46.36 per share (1.5% retracement since that call). This bullish candle pattern may point to a continuation of the previously called Uptrend.

Contact Chip Brian
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