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Possible Bearish Inside Day Candle Pattern Detected for Us Silica Holdin (NYSE:SLCA)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Us Silica Holdin (NYSE:SLCA) based on the price action in the company's shares. Today's price range of $12.63 and $12.83 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 Us Silica Holdin may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

U.S. Silica Holdings, Inc. is a producer of industrial silica and sand proppants. The Company produces a variety of industrial minerals including sand proppants, whole grain silica, ground silica, fine ground silica, calcined kaolin clay, and aplite clay. U.S. Silica offers its products to the oil and gas, glass, chemical, and building products industries.

Us Silica Holdin has overhead space with shares priced $12.70, or 64.8% below the average consensus analyst price target of $36.05. The stock should hit resistance at its 200-day moving average (MA) of $13.49, as well as support at its 50-day MA of $11.90.

In the past 52 weeks, Us Silica Holdin share prices have been bracketed by a low of $9.30 and a high of $23.43 and are now at $12.70, 37% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has slid 0.2%.

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

Keywords: bearish inside day candle us silica holdin

Ticker(s): SLCA