SmarTrend's Candlestick Scanner Detects Bearish Engulfing Pattern for Invesco (IVZ)
SmarTrend's candlestick pattern scanner has detected a bearish engulfing pattern for shares of Invesco (NYSE: IVZ) since the stock closed below $20.27.
Yesterday, this company traded 9,980,125 shares, versus the previous day's total volume of 7,927,377. Heavy volume increases the reliability of this bearish candlestick pattern.
SmarTrend issued a Downtrend alert on shares of Invesco on January 26, 2010 at $20.68 per share (2.3% return since that call). This bearish candle pattern may point to a continuation of the previously called Downtrend.
Write to Chip Brian at cbrian@tradethetrend.com
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