Southern Copper Bearish Moving Average Crossover Alert (SCCO)
Southern Copper (NYSE:SCCO) crossed under its 10-day moving average of $26.16 on a volume of 155K 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 $21.55 to $33.30 and is now at $25.93, 20% 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 is tracking the current trend status for Southern Copper and will alert subscribers who have SCCO in their portfolio or watchlist when shares have changed trend direction.
Keywords: moving crosses Southern Copper