SCCO trade ideas
$spy If you are patient I think $scco and $hg_f are good shortsHeavy commercial short positions in copper at these levels. Be patient and let it play out
SOUTHERN COOPER COPORATION IdeaHey my friends, SOUTHERN COOPER COPORATION is looking very interesting, it is on a bullish slant, it is heading for its previous higher with signal of the cross and the gap above it can be bridged so that it can possibly be reversed.
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Probably the best copper mining stock out there !See chart for analysis.
Logic is quite simple - to reignite the economies worldwide, governments would have to spend a lot on infrastructure projects to create jobs. Copper, as one of the key commodities in many infrastructure projects would be in high demand.
And this chart is showing the price action being depressed for quite a while. It has now broken out of the bearish trend and is preparing its bullish move.
There is a high likelihood we see some consolidation here before it breaks out and soar higher.
You can put this in your watchlist !
SCCO - DOUBLE BOTTOMLooking to see if the double bottom in SCCO will manifest itself. Looking at a 3% rise from the horizontal boundary break for an entry with a measured target of $55.80
Southern Copper - Good Numbers and positive momentum#SCCO
I found this stock quite promising at this moment of time.
Monthly candle stick chart and balance sheet figures support a positive attitude and momentum towards 50s.
LONG SCCOExpecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
$SCCO long term support on monthly chart.$SCCO trading near long term support. Good R/R at these levels.
HG1!Southern Copper Corporation is an integrated copper producer. It produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. Its segments include the Peruvian operations, the Mexican open-pit operations and the Mexican underground mining operations segment identified as the IMMSA unit. The Peruvian operations segment includes the Toquepala and Cuajone mine complexes, and the smelting and refining plants, including a metals plant industrial railroad and port facilities that service both mines. The Mexican open-pit operations segment includes the La Caridad and Buenavista mine complexes, and the smelting and refining plants, including a metals plant and a copper rod plant, and support facilities that service both mines. As of December 31, 2016, the Mexican underground mining operations segment included five underground mines that produce zinc, copper, silver and gold, a coal mine and a zinc refinery.
SCCO
HG
AMEX:COPX
SCCO, Short-term Support lineOne of our open positions, we will close it if the price drops below the red line.
Descending triangle form a revesral patternA weekly chart: Descending triangles form as reversal patterns?
SCCO - Rising volume, no trend, what will happen?What's your take on this stock... volume ramping up at the end of long run up since January. Indecision before the fall or increased anticipation of an upward move? Interested in your thoughts!
Good trading!
Brian Hershey
Retested daily breakout, looks bullishAlthough SCCO completed the bearish gartley, the pullback tested the daily breakout. Should keep above the daily trendline and go for a new high. This move is playing on weekly double bottom so very likely for bullish continuation.
Strong resistence cluster around the 30 mark, supply. If this breaks look for 35.63 harmonic target on bearish crab.
