SmarTrend's Candlestick Scanner Detects Bullish Engulfing Pattern for Cytokinetics (CYTK)

SmarTrend's candlestick pattern scanner has detected a bullish engulfing pattern for shares of Cytokinetics CYTK since the stock closed above $3.13.

Yesterday, this company traded 177,616 shares, versus the previous day's total volume of 84,486. Heavy volume increases the reliability of this bullish candlestick pattern.

SmarTrend issued an Uptrend alert on shares of Cytokinetics on January 11, 2010 at $3.59 per share (12.3% retracement since that call). This bullish candle pattern may point to a continuation of the previously called Uptrend.

Write to Chip Brian at cbrian@tradethetrend.com

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