Southern Copper Bullish Moving Average Crossover Alert (SCCO)
Southern Copper (NYSE:SCCO) crossed over its 10-day moving average of $26.30 on a volume of 185K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher 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 $26.64, 24% 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 its subscribers protect gains by selling shares of Southern Copper on May 9th, 2016 by issuing a Downtrend alert when the shares were trading at $27.49. Since that call, shares of Southern Copper have fallen 5.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: moving crosses Southern Copper