U.S. Silica Holdings, Inc., together with its subsidiaries, engages
in the mining, processing, and sale of commercial silica in the United
States. It operates in two segments, Oil & Gas Propants and
Industrial & Specialty Products. The company offers whole grain
commercial silica products to be used as fracturing sand in connection
with oil and natural gas recovery, as well as in various size
distributions, grain shapes, and chemical purity levels for
manufacturing glass products. It also provides ground commercial silica
products for use in plastics, rubber, polishes, cleansers, paints,
glazes, textile fiberglass, and precision castings. In addition, the
company offers other industrial mineral products, such as aplite, a
mineral used to produce container glass and insulation fiberglass; and
adsorbent made from a mixture of silica and magnesium for preparative
and analytical chromatography applications. It serves oil and gas
recovery markets, as well as various industries, including, container
glass, fiberglass, specialty glass, flat glass, building products,
fillers and extenders, foundry products, chemicals, recreation products,
and filtration products.
Please take a look at the 1-year chart of SLCA (U.S. Silica Holdings, Inc.) below with my added notations:
After skyrocketing in February and March, SLCA fell back to $18 in
April and has been trading sideways ever since. During its sideways
move, the stock has been consistently stalling at $24 (blue). In
addition, SLCA has commonly found support and resistance at $22
(purple).
The Tale of the Tape: SLCA has two levels to watch
at $22 and $24. A long trade could be made at $22 or on a break above
$24. A short play should be made if the stock breaks below $22.
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