SMARTREND'S CANDLESTICK SCANNER DETECTS POSSIBLE BEARISH INSIDE DAY PATTERN ... - Zacks.com

Jul 11, 2011 (SmarTrend(R) Market Surveillance via COMTEX) -- SmarTrend's candlestick pattern scanner has detected a potential bearish inside day candle pattern for shares of Asbury Automotive (NYSE:ABG - Snapshot Report). Today's price range of 19.13 and 19.53 is within yesterday's price range.

This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend.

Owners of Asbury Automotive may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the last five trading sessions, the 50-day MA has climbed 0.88% while the 200-day MA has risen 0.76%.

In the past 52 weeks, shares of Asbury Automotive have traded between a low of $9.69 and a high of $20.12 and are now at $19.49, which is 101% above that low price.

SmarTrend issued an Uptrend alert on shares of Asbury Automotive on June 21, 2011 at $17.45 per share (11.7% return since that call). This bearish candle pattern may point to a reversal of the previously called Uptrend.

Write to Chip Brian at cbrian@mysmartrend.com

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Copyright, Comtex News Network, Inc. 2011

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As of Thursday, 07-07-2011 23:59, the latest Comtex SmarTrendA? Alert,
an automated pattern recognition system, indicated a DOWNTREND on
03-15-2011 for ABG @ $17.01.

For more information on SmarTrend, contact your market data
provider or go to www.mysmartrend.com

SmarTrend is a registered trademark of Comtex News Network, Inc.
Copyright A? 2004-2011 Comtex News Network, Inc. All rights reserved.

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