• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Compass Minerals (NYSE:CMP)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Compass Minerals (NYSE:CMP) based on the price action in the company's shares. Yesterday's price range of $66.40 and $67.05 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 Compass Minerals may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

There is potential upside of 10.8% for shares of Compass Minerals based on a current price of $66.80 and an average consensus analyst price target of $74.00. Compass Minerals shares should first meet resistance at the 50-day moving average (MA) of $71.97 and find additional resistance at the 200-day MA of $77.39.

Compass Minerals share prices have moved between a 52-week high of $84.40 and a 52-week low of $62.70 and closed yesterday at 7% above that low price at $66.80 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.7%.

Compass Minerals International, Inc. produces highway deicing salt in North America and the United Kingdom. The Company also produces general trade salt and sulfate of potash. Compass Minerals sells its highway deicing salt primarily to state, provincial, county, and municipal highway departments for deicing applications.

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

Keywords: bullish am inside day candle compass minerals

Ticker(s): CMP