Technical Analysis - SmarTrend's Candlestick Scanner Detects Bullish Harami Pattern for Poniard Pharmaceuticals (PARD) - 12/22/2009 8:59:36 AM
SmarTrend's candlestick pattern scanner has detected a bullish harami candle pattern for shares of Poniard Pharmaceuticals (NASDAQ : PARD). Yesterday's real body is within the previous day'sbody and may imply that traders and investors believe that the recentmove lower is exhausted. A green candle today would confirm this trendreversal. Also, the narrower the green real body today, the morereliable the harami. Yesterday, this company traded 3,076,730 shares,versus the previous day's total volume of 4,274,688. Decreased volumealso is an indicator that the selling pressure may have subsided. SmarTrend issued an Uptrend alert on shares ofPoniard Pharmaceuticals on November 18, 2009 at $2.56 per share (25.8%retracement since that call). This bullish candle pattern may point toa continuation of the previously called Uptrend. |