SCCO has a lot of tailwinds with the economy the way it is. The next few years could easily see prices continuing to rise. We do not know exactly what will happen, but markets are showing a positive longer-term outlook. I could see this rising to $100/sh by EOY.
ABCD harmonic pattern for SCCO. Set buy stop entry at 63.81$, SL 55.10$, forget it.
Set up buy stop entry at ABCD pattern. SCCO is accumation at inside bars. Wait for the breakout and set long entry.
Since 52 week high in May, SCCO is in a downtrend and it's nearing a breakout of upper trendline in falling wedge pattern. Local lows and local highs trendlines have been converging on relatively declining volume. If it closes weekly above 61.6 (now it's hovering just over 61), a bullish reversal of the existing downtrend and return to to a previous uptrend is...
This is my first attempt to follow Elliott wave pattern. After wave A B C correction, seems we are now at the beginning of new wave 3, which should be the longest one with 1.6 fibo retracement of wave 1. Previous waves 1 to 5: W2 did not retrace more than W1, W3 was the longest, W4 didn't go beyond W3. New waves 1 to 5: W2 didn't retrace more than low of W1 so...
I mean is this really impossible? Is it probable? no Will I be trading it? yes this stock has always shown the clearest of waves and with precious metals & inflation on the rise, why shouldn't a company have some strong incentives?
Next few weeks will probably correct upwards, invalidated as an impulse but it can probably still rise some. This places it around the .5fib and the top of the channeling.
we reached the end of C, needs to break resistance here on LTF to become a wave 3
I think breakout of the upper boundary line of the base channel gives confirmation to find a trade setup.
NYSE:SCCO We can see a wedge breakout on heavy volume, small decline and retest. Probably, it is a second chance to enter long on this price level.
Contextual immersion trading strategy idea. Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The demand for shares of the company still looks higher than the supply. This and other conditions can cause a rise in the share price in the next days. So I...
SCCO is one of the company dealing in copper and copper mining, it has kind of monopoly over copper. With recent EV demand , copper demand will also increase. Right now it is offering a very god entry point near its stron support. Overall it has finished with cup and handle pattern . It should test 75 levels soon. Idea is for entertainment , its not a trading...
been wanting in copper forever now. gonna add some of this.
Provided that we aren't about to see the market dump itself, I think this has a great chance to recover from here and continue its strong uptrend. Watch the market and manage your risk.