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Bearish Moving Average Cross by Southern Copper (SCCO)

By Nick Russo

Southern Copper (NYSE:SCCO) crossed under its 10-day moving average of $46.98 on a volume of 227K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Southern Copper share prices have moved between a 52-week high of $58.09 and a 52-week low of $37.13 and are now trading 26% above that low price at $46.82 per share. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 0.4%.

SmarTrend is monitoring the recent change of momentum in Southern Copper. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Southern Copper in search of a potential trend change.

Keywords: moving crosses Southern Copper

Ticker(s): SCCO