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Possible Bearish Inside Day Candle Pattern Detected for Aqua Metals Inc (NASDAQ:AQMS)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Aqua Metals Inc (NASDAQ:AQMS) based on the price action in the company's shares. Yesterday's price range of $0.75 and $0.88 is within the prior day's high and low of the day. 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 Aqua Metals Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Aqua Metals Inc has overhead space with shares priced $0.80, or 92.9% below the average consensus analyst price target of $11.33. Aqua Metals Inc shares should first meet resistance at the 50-day moving average (MA) of $1.18 and find additional resistance at the 200-day MA of $1.91.

In the past 52 weeks, shares of Aqua Metals Inc have traded between a low of $0.41 and a high of $4.33 and closed yesterday at $0.80, which is 95% above that low price. The 200-day and 50-day moving averages have moved 2.4% lower and 5% lower over the past week, respectively.

Aqua Metals, Inc. operates lead acid battery recycling facilities. The Company offers recycling of lead acid batteries. Aqua Metals produces lead recovered from used lead acid batteries.

SmarTrend is tracking the current trend status for Aqua Metals Inc and will alert subscribers who have AQMS in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle aqua metals inc

Ticker(s): AQMS