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Possible Bearish Inside Day Candle Pattern Detected for Stillwater Mining (NYSE:SWC)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Stillwater Mining (NYSE:SWC) based on the price action in the company's shares. Today's price range of $10.34 and $10.75 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 Stillwater Mining may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Stillwater Mining Company explores for, develops, extracts, processes, and refines platinum, palladium, and associated metals from the J-M Reef located in Stillwater and Sweet Grass Counties, Montana. The Company's current mining operations consist of the Stillwater Mine, an underground mine located in Nye, Montana.

In the past 52 weeks, shares of Stillwater Mining have traded between a low of $4.99 and a high of $15.07 and are now at $10.64, which is 113% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.5% while the 200-day MA has risen 0.3%.

Potential upside of 12.7% exists for Stillwater Mining, based on a current level of $10.64 and analysts' average consensus price target of $12.00. The stock should find initial support at its 50-day moving average (MA) of $10.54 and further support at its 200-day MA of $9.23.

SmarTrend is monitoring the recent change of momentum in Stillwater Mining. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Stillwater Mining in search of a potential trend change.

Keywords: bearish inside day candle stillwater mining

Ticker(s): SWC