On the weekly chart, Hochschild Mining looks to have broken out from 95.75 resistance. This bottom started to form in July 2022, so it's taken a year and 5 months to complete. As Gold is pushing higher this could mean more to come from this miner?
WARNING: This not a recommendation to trade. Do your own research and decide on your own trades.
I just love this monthly chart, just look at it... HOC has only closed below this current price for 3 sessions in the history of the company back in 2016, whilst today's price is coincidentally the session low dating back to December 2008.
Down 82.5% since 2020 highs and with the monthly RSI at multi year lows the risk here now seems to be to the upside, a...
Looking at what appears to be an inverse head and shoulders pattern on silver I'm looking for Hochschild to double bottom at around £1.30 to buy long before hitting £1.63 resistance
What do you think?
Looking at silver prices it looks
to be making a move tot the upside
therefore im looking for a trend
reversal which looks to be
happening on the 4h macd
Im looking for a breakout through
resistance and a test as a support
level before the up move continues
Expecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
Technical Analysis
Hochschild Mining was a higher yesterday against a backdrop of red in UK markets. The shares appear to have been in the process of bottoming out over the past few months and have now completed an inverse head and shoulders bottom. This is a powerful reversal pattern and suggest there will be more upside over the medium term.
Fundamentals...
Hochschild has been in a downtrend for quite some time. Companies like this are clearly linked to the price of precious metals, as witnessed by their recent trading results, but they will benefit substantially if physical metals can continue their recent increase in price. On my chart it looks like the downtrend has been broken, with a higher high. I'm looking...
Think this is a good entry point into HOC - sitting on 50% Fib retracement on the daily (from major 40p-330p move) - MACD histogram about to go positive
