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.
Southern Copper Corporation is an integrated copper producer. It produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. Its segments include the Peruvian operations, the Mexican open-pit operations and the Mexican underground mining operations segment identified as the IMMSA...
What's your take on this stock... volume ramping up at the end of long run up since January. Indecision before the fall or increased anticipation of an upward move? Interested in your thoughts!
Good trading!
Brian Hershey
Although SCCO completed the bearish gartley, the pullback tested the daily breakout. Should keep above the daily trendline and go for a new high. This move is playing on weekly double bottom so very likely for bullish continuation.
Strong resistence cluster around the 30 mark, supply. If this breaks look for 35.63 harmonic target on bearish crab.
HISTORY:
Southern Copper Corporation ("SCCO/NYSE") is one of the largest integrated copper producers in the world. They produce copper, molybdenum, zinc and silver. All of their mining, smelting and refining facilities are located in Peru and Mexico and they conduct exploration activities in those countries and in Argentina, Chile and Ecuador. Their operations...
Really like the way SCCO is looking here. holding up above a flat/rising 200-sma, the number one spot for large institutions to nibble on shares. Momentum is nowhere to be seen thus far, but when this thing goes, it goes. "the longer the base, the larger the space". keep on watch
Southern Copper Corporation (SCCO) is a company that produces copper, zinc, and silver. The company’s stock is currently trading around $32.45 in a 52 week range of $24.50-$40.48. The stock has greatly underperformed the market over the past year with share prices falling over 19% in the past 12 months. In recent months however, the stock has been relatively...
