SmarTrend's candlestick pattern scanner has detected a potential bullish engulfing pattern for shares of Genzyme (NASDAQ:GENZ) if they close above $49.98 today.

Thus far today, this company has traded 1,834,333 shares, versus yesterday's total volume of 4,244,302. Heavy volume increases the reliability of this bullish candlestick pattern.

SmarTrend issued a Downtrend alert on shares of Genzyme on October 21, 2009 at $52.70 per share (5.2% return since that call). This bullish candle pattern may point to a reversal of the previously called Downtrend.

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