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SmarTrend's Candlestick Scanner Detects Possible Bullish Piercing Line Pattern for CTC Media (CTCM)

Written on Fri, 07/30/2010 - 2:03pm
By Chip Brian

SmarTrend's candlestick pattern scanner has detected a potential bullish Piercing Line candle pattern for shares of CTC Media (NASDAQ:CTCM).
Today, the stock gapped down, but then encountered bargain hunters that pushed the stock higher.
Thus far today (3:04PM), this company has traded 231,369 shares, versus yesterday's total volume of 402,500. 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 CTC Media on June 03, 2010 at $15.28 per share (16% return 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): CTCM

Contact Chip Brian



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