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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 $10.39 and $10.58 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.

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.

There is potential upside of 13.9% for shares of Stillwater Mining based on a current price of $10.54 and an average consensus analyst price target of $12.00. The stock should hit resistance at its 50-day moving average (MA) of $10.54, as well as 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 $15.07 and are now at $10.54, which is 111% above that low price. 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%.

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

Keywords: bullish inside day candle stillwater mining

Ticker(s): SWC