SmarTrend's candlestick pattern scanner has detected a potential bearish engulfing pattern for shares of Allos Therapeutics (NASDAQ:ALTH) if they close below $6.46 today.

Thus far today (3:03PM), this company has traded 1,588,274 shares, versus Friday's total volume of 1,429,781. Heavy volume increases the reliability of this bearish candlestick pattern.

SmarTrend issued an Uptrend alert on shares of Allos Therapeutics on November 25, 2009 at $6.47 per share (0.4% retracement since that call). This bearish candle pattern may point to a reversal of the previously called Uptrend.

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