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Possible Bullish Inside Day Candle Pattern Detected for Cia de Minas Buenaventura (NYSE:BVN)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Cia de Minas Buenaventura (NYSE:BVN) based on the price action in the company's shares. Today's price range of $13.20 and $13.39 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. Traders and investors interested in shares of Cia de Minas Buenaventura may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, Cia de Minas Buenaventura has traded in a range of $3.30 to $16.45 and is now at $13.24, 301% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 5.2%.

Based on a current price of $13.24, Cia de Minas Buenaventura is currently 32.9% above its average consensus analyst price target of $8.89. The stock should discover initial support at its 50-day moving average (MA) of $7.22 and subsequent support at its 200-day MA of $6.07.

Compania de Minas Buenaventura S.A. explores for, mines, and processes gold, silver, zinc, and other metals. The Company operates mines in Peru, a lime plant, an electric power transmission company, and an engineering services company. Buenaventura also markets metal concentrates to smelters internationally.

SmarTrend is tracking the current trend status for Cia de Minas Buenaventura and will alert subscribers who have BVN in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle cia de minas buenaventura

Ticker(s): BVN