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Southern Copper Bearish Moving Average Crossover Alert (SCCO)

By Nick Russo

Southern Copper (NYSE:SCCO) shares have crossed bearishly below their 10-day moving average of $54.04 on a volume of 181K 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.

Over the past year, Southern Copper has traded in a range of $24.90 to $56.61 and is now at $53.76, 116% above that low. 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 February 14th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $49.40. Since that recommendation, shares of Southern Copper have risen 11.0%. 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