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SmarTrend's Candlestick Scanner Detects Possible Bullish Piercing Line Pattern for Del Monte Foods (DLM)

Written on Fri, 07/30/2010 - 2:01pm
By Chip Brian

SmarTrend's candlestick pattern scanner has detected a potential bullish Piercing Line candle pattern for shares of Del Monte Foods (NYSE:DLM).
Today, the stock gapped down, but then encountered bargain hunters that pushed the stock higher.
Thus far today (3:04PM), this company has traded 1,013,585 shares, versus yesterday's total volume of 1,990,100. 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 Del Monte Foods on June 10, 2010 at $15.46 per share (10.6% retracement since that call). This bullish candle pattern may point to a continuation of the previously called Uptrend.

Keywords: Stock research report chart fundamental technical analysis

Ticker(s): DLM

Contact Chip Brian



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