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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. Yesterday's price range of $14.24 and $14.51 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 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.

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.

Stillwater Mining (NYSE:SWC) is currently priced 16.4% above its average consensus analyst price target of $12.00. The stock should find initial support at its 50-day moving average (MA) of $10.54 and further support at its 200-day MA of $9.23.

In the past 52 weeks, shares of Stillwater Mining have traded between a low of $4.99 and a high of $15.91 and closed yesterday at $14.35, which is 188% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 2.5%.

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 am inside day candle stillwater mining

Ticker(s): SWC