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

By Amy Schwartz

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 $4.36 and $4.54 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 47.9% exists for Coeur Mining Inc, based on a current level of $4.53 and analysts' average consensus price target of $6.70. The stock should find resistance at its 50-day moving average (MA) of $5.12, as well as support at its 200-day MA of $4.45.

Coeur Mining Inc share prices have moved between a 52-week high of $5.99 and a 52-week low of $2.78 and closed yesterday at 63% above that low price at $4.53 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.6%.

SmarTrend is tracking the current trend status for Coeur Mining Inc and will alert subscribers who have CDE in their portfolio or watchlist when shares have changed trend direction.

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

Ticker(s): CDE