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

By David Diaz

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 $10.53 and $10.68 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 share prices have moved between a 52-week high of $21.44 and a 52-week low of $8.72 and are now trading 22% above that low price at $10.68 per share. The 200-day and 50-day moving averages have moved 0.75% lower and 1.86% lower over the past week, respectively.

Potential upside of 237.5% exists for Us Silica Holdin, based on a current level of $10.68 and analysts' average consensus price target of $36.05. Us Silica Holdin shares should first meet resistance at the 50-day moving average (MA) of $11.80 and find additional resistance at the 200-day MA of $13.25.

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