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Bearish Moving Average Cross by Southern Copper (SCCO)

By David Diaz

Southern Copper (NYSE:SCCO) crossed under its 10-day moving average of $40.96 on a volume of 259K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Southern Copper have traded between a low of $24.90 and a high of $42.00 and are now at $40.82, which is 64% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.3%.

SmarTrend recommended that subscribers consider buying shares of Southern Copper on June 9th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.32. Since that recommendation, shares of Southern Copper have risen 13.7%. We continue to monitor SCCO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Southern Copper

Ticker(s): SCCO