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Possible Bullish Inside Day Candle Pattern Detected for Suncoke Energy I (NYSE:SXC)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Suncoke Energy I (NYSE:SXC) based on the price action in the company's shares. Yesterday's price range of $5.46 and $5.79 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 Suncoke Energy I 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, Suncoke Energy I share prices have been bracketed by a low of $5.07 and a high of $11.78 and closed yesterday at $5.67, 12% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has declined 0.6%.

Suncoke Energy I (NYSE:SXC) has potential upside of 135.2% based on a current price of $5.67 and analysts' consensus price target of $13.33. Suncoke Energy I shares should first meet resistance at the 50-day moving average (MA) of $6.11 and find additional resistance at the 200-day MA of $8.03.

SunCoke Energy, Inc. operates as an independent producer of coke in the Americas. The company operates through three segments: Domestic Coke, Brazil Coke, and Logistics. It offers metallurgical and thermal coal. The company also provides handling and/or mixing services to steel, coke, electric utility, coal producing, and other manufacturing based customers. SunCoke Energy, Inc. was founded in 1960 and is headquartered in Lisle, Illinois.

SmarTrend is tracking the current trend status for Suncoke Energy I and will alert subscribers who have SXC in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle suncoke energy i

Ticker(s): SXC