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Possible Bearish Inside Day Candle Pattern Detected for Coeur Mining Inc (:CDE)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Coeur Mining Inc (:CDE) based on the price action in the company's shares. Yesterday's price range of $4.12 and $4.34 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. Owners of Coeur Mining Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of Coeur Mining Inc have traded between a low of $1.98 and a high of $8.29 and closed yesterday at $4.21, which is 113% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 4.1%.

There is potential upside of 59.1% for shares of Coeur Mining Inc based on a current price of $4.21 and an average consensus analyst price target of $6.70. Coeur Mining Inc shares should encounter resistance at the 200-day moving average (MA) of $5.31 and support at the 50-day MA of $3.91.

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

Keywords: bearish am inside day candle :cde coeur mining inc

Ticker(s): CDE