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Southern Copper Bearish Moving Average Crossover Alert (SCCO)

By David Diaz

Southern Copper (NYSE:SCCO) shares have crossed bearishly below their 10-day moving average of $39.26 on a volume of 168K 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.

Over the past year, Southern Copper has traded in a range of $24.90 to $39.94 and is now at $38.96, 56% above that low. Over the past week, 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 8.6%. 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