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Possible Bullish Inside Day Candle Pattern Detected for Us Silica Holdin (NYSE:SLCA)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Us Silica Holdin (NYSE:SLCA) based on the price action in the company's shares. Yesterday's price range of $5.19 and $5.30 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 Us Silica Holdin may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Us Silica Holdin have traded between a low of $4.38 and a high of $18.72 and closed yesterday at $5.28, which is 20% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has declined 3.6%.

U.S. Silica Holdings, Inc. is a producer of industrial silica and sand proppants. The Company produces a variety of industrial minerals including sand proppants, whole grain silica, ground silica, fine ground silica, calcined kaolin clay, and aplite clay. U.S. Silica offers its products to the oil and gas, glass, chemical, and building products industries.

There is potential upside of 583.3% for shares of Us Silica Holdin based on a current price of $5.28 and an average consensus analyst price target of $36.05. The stock should find initial resistance at its 50-day moving average (MA) of $5.86 and further resistance at its 200-day MA of $11.18.

SmarTrend recommended that its subscribers protect gains by selling shares of Us Silica Holdin on September 27th, 2019 by issuing a Downtrend alert when the shares were trading at $9.93. Since that call, shares of Us Silica Holdin have fallen 48.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle us silica holdin

Ticker(s): SLCA