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Possible Bullish Inside Day Candle Pattern Detected for Stillwater Mining (NYSE:SWC)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Stillwater Mining (NYSE:SWC) based on the price action in the company's shares. Today's price range of $14.35 and $14.51 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 Stillwater Mining may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Based on a current price of $14.38, Stillwater Mining is currently 16.5% above its average consensus analyst price target of $12.00. Stillwater Mining shares have support at the 50-day moving average (MA) of $10.54 and additional support at the 200-day MA of $9.23.

Over the past year, Stillwater Mining has traded in a range of $4.99 to $15.91 and is now at $14.38, 188% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.5% while the 200-day MA has risen 0.3%.

Stillwater Mining Company explores for, develops, extracts, processes, and refines platinum, palladium, and associated metals from the J-M Reef located in Stillwater and Sweet Grass Counties, Montana. The Company's current mining operations consist of the Stillwater Mine, an underground mine located in Nye, Montana.

SmarTrend recommended that subscribers consider buying shares of Stillwater Mining on June 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.18. Since that recommendation, shares of Stillwater Mining have risen 27.2%. We continue to monitor SWC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle stillwater mining

Ticker(s): SWC