U.S. Silica Holdings Inc. (SLCA) has made a turn to the upside on the charts so this energy service company is worth a look.
In this daily bar chart of SLCA, below, we can see how prices went from a downtrend to an uptrend. Prices are above the rising 50-day moving average line and above the still declining 200-day line. Just the other day the 50-day average moved above the 200-day average for a bullish golden cross. The On-Balance-Volume (OBV) line has been improving slowly from the middle of August when prices made their low. The Moving Average Convergence Divergence (MACD) oscillator is above the zero line and could up again if prices rally.
In this weekly bar chart of SLCA, below, we can see that prices are above the flattening 40-week moving average line. The weekly OBV line is stabilizing and the MACD oscillator is about to cross above the zero line for an outright go long signal.
In this Point and Figure chart of SLCA, below, you can see that a downtrend line has been broken and there is a potential price target of $52.
Bottom line: SLCA may trade between $35 and $40 for a while before we see renewed gains. Probe the long side of SLCA on a dip towards the $35 area risking below $31 and looking for $50-$52 longer-term.