US Silica Holdings SLCA setting up for a rally
Possible range breakout after a prolonged sideways correction that has brought in new shareholders and allowed old shareholders to take profits. It appears the stock is now ready for a new leg to the upside.
Look for this recent burst out to continue as volume lifted as the price made a move to get this stock out of the range.
We will likely see a strong reaction again from higher levels near 26-28 as that saw heavy selling by aggressive traders. Look for higher-lows to occur despite the strong price reaction and then look for higher-highs subsequently.
Risk: 10%
Upside: 15%-25%
Probability 40%
Tim West 11:34AM EST Friday, July 19, 2013
Look for this recent burst out to continue as volume lifted as the price made a move to get this stock out of the range.
We will likely see a strong reaction again from higher levels near 26-28 as that saw heavy selling by aggressive traders. Look for higher-lows to occur despite the strong price reaction and then look for higher-highs subsequently.
Risk: 10%
Upside: 15%-25%
Probability 40%
Tim West 11:34AM EST Friday, July 19, 2013
Subscribe to my indicator package KEY HIDDEN LEVELS $10/mo or $100/year and join me in the trading room KEY HIDDEN LEVELS here at TradingView.com