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Possible Bearish Inside Day Candle Pattern Detected for Coeur Mining Inc (:CDE)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Coeur Mining Inc (:CDE) based on the price action in the company's shares. Today's price range of $4.46 and $4.56 is within yesterday'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 Coeur Mining Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Coeur Mining Inc has overhead space with shares priced $4.50, or 56.8% below the average consensus analyst price target of $10.41. The stock should find initial support at its 200-day moving average (MA) of $4.10 and further support at its 50-day MA of $3.51.

In the past 52 weeks, shares of Coeur Mining Inc have traded between a low of $2.78 and a high of $5.74 and are now at $4.50, which is 62% above that low price. The 200-day and 50-day moving averages have moved 0.19% higher and 1.38% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Coeur Mining Inc on June 4th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $3.11. Since that recommendation, shares of Coeur Mining Inc have risen 49.2%. We continue to monitor CDE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle :cde coeur mining inc

Ticker(s): CDE