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

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Coeur Mining Inc (:CDE) based on the price action in the company's shares. Yesterday's price range of $4.54 and $4.81 is within the prior day'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 Coeur Mining Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Potential upside of 120.9% exists for Coeur Mining Inc, based on a current level of $4.71 and analysts' average consensus price target of $10.41. The stock should hit resistance at its 50-day moving average (MA) of $4.94, as well as support at its 200-day MA of $4.36.

In the past 52 weeks, Coeur Mining Inc share prices have been bracketed by a low of $2.78 and a high of $5.82 and closed yesterday at $4.71, 69% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.1%.

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

Keywords: bullish am inside day candle :cde coeur mining inc

Ticker(s): CDE