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

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Us Silica Holdin (NYSE:SLCA) based on the price action in the company's shares. Today's price range of $2.08 and $2.26 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. Owners of Us Silica Holdin may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

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 1,506.9% for shares of Us Silica Holdin based on a current price of $2.24 and an average consensus analyst price target of $36.05. The stock should find resistance at its 200-day moving average (MA) of $6.42, as well as support at its 50-day MA of $2.17.

In the past 52 weeks, shares of Us Silica Holdin have traded between a low of $0.79 and a high of $16.85 and are now at $2.24, which is 184% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 15.7% while the 200-day MA has slid 4.1%.

SmarTrend is tracking the current trend status for Us Silica Holdin and will alert subscribers who have SLCA in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle us silica holdin

Ticker(s): SLCA