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

By David Diaz

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 $4.66 and $5.02 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.

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.

In the past 52 weeks, Us Silica Holdin share prices have been bracketed by a low of $4.38 and a high of $18.72 and closed yesterday at $4.67, 7% above that low price. Over the past week, the 200-day moving average (MA) has gone down 2% while the 50-day MA has advanced 0.3%.

Us Silica Holdin has overhead space with shares priced $4.67, or 87.1% below the average consensus analyst price target of $36.05. Us Silica Holdin shares should first meet resistance at the 50-day moving average (MA) of $5.43 and find additional resistance at the 200-day MA of $9.49.

SmarTrend is monitoring the recent change of momentum in Us Silica Holdin. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Us Silica Holdin in search of a potential trend change.

Keywords: bullish am inside day candle us silica holdin

Ticker(s): SLCA