AnishBadwe

HBM Bouncing off a support level-Target $10.40

Long
TSX:HBM   HUDBAY MINERALS INC
HBM has bounced off a long held support level . Last few trading days tested lower prices but the bulls won.
MACD and Stochastic show growing momentum and it returning from the oversold zone.

Even if HBM is simply in its trading range, we have an opportunity to buy in so that we can make a sweet 12% if it makes its way to its resistance level at $10. 40 .
In my opinion, it could possible break past its resistance level .
Trade active: Today, the bears are looking stronger than the bulls. The target of $10.40 may not be reached but the trade should be closed soon for a good profit nonetheless.
Trade active: HBM is approaching the target of $10.40!
Trade closed: target reached

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