After hitting the bullish engulfing scan on Tuesday, Time Warner is set to appear on the hammer scan for Thursday. The stock surged in February and then retraced around 50% with a decline to the 35 area. The stock has been firming in this area since mid March and a high volume follow through to today's hammer would be bullish. Click here to see our scan page.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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