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Southern Copper Crosses Below its 10-day MA (SCCO)

By Shiri Gupta

Today, shares of Southern Copper (NYSE:SCCO) have fallen below their 10-day MA of $45.21 on a volume of 241K 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 $37.11 and are now trading 18% above that low price at $43.65 per share. The 200-day and 50-day moving averages have moved 0.18% higher and 0.87% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Southern Copper on April 26th, 2018 by issuing a Downtrend alert when the shares were trading at $52.70. Since that call, shares of Southern Copper have fallen 13.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Southern Copper

Ticker(s): SCCO