SmarTrend's Candlestick Scanner Detects Possible Bearish Harami Pattern for Openwave Systems (OPWV)
Dec 09, 2009 (SmarTrend(R) Spotlight via COMTEX) --
Company: Openwave Systems, Inc. (OPWV)
SmarTrend's candlestick pattern scanner has detected a potential bearish harami candle pattern for shares of Openwave Systems (NASDAQ:OPWV).
Today's real body is within yesterday's body and may imply that traders and investors believe that the recent uptrend may be nearing an end.
A move down tomorrow would confirm this trend reversal. Also, the narrower the red body today, the more reliable the harami.
Thus far today (11:04AM), this company has traded 36,602 shares, versus yesterday's total volume of 467,870. Decreased volume also is an indicator that the buying momentum may have subsided.
SmarTrend issued an Uptrend alert on shares of Openwave Systems on November 17, 2009 at $2.56 per share (12.1% retracement since that call). This bearish candle pattern may point to a reversal of the previously called Uptrend.
Write to Chip Brian at cbrian@tradethetrend.com
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Company: Openwave Systems, Inc. (OPWV)
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