TL;DR: Wait for falling wedge on monthly to resolve, look for opportunity to enter a long position on HL to gain exposure to gold mining industry
With the recent uptick in gold prices, attention will obviously shift towards gold miners and other equities involved in the gold space, Hecla Mining (HL) is one such equity.
As you can see from the chart a falling...
Very low on the curve , very cheap stock to buy and hold for long term.
But first we need to see some bullish signs.
Waiting for weekly Descending trend line broken at A before we go long at B
Hecla Mining (HL) strong today with September $3.50 calls seeing 3,200 open this morning, smaller lots and could be a newsletter, but a strong break above the 200 MA today for the small cap in a hot precious metals sector
Gold and silver daily pullback will continue to push this miner lower.
The metals shouldl not break the daily impulse, but miners cannot take the pressure after only 1 impulse up.
Trade at your own risk!
* Some indicators are looking bearish on D1
* "TD Count" has been started to count with red.
*Cloud is strong resistance area for this stock.
* Target is on Kijun-Sen and fibo. retr. 0,5.
**Stock is looking bearish for next week. Monday's closing price is important.
So now we lower the bar a little and get the little inverted head and shoulder thingy bob. Usually its a 2 year correction..lows are in late Jan to Feb.
Hecla Mining Company is engaged in discovering, acquiring, developing and producing silver, gold, lead and zinc. The Company and its subsidiaries provide precious and base metals to the United States and around the world. It produces lead, zinc and bulk concentrates, which it markets to custom smelters and brokers, and unrefined bullion bars (dore) containing gold and silver. Its segments include the Greens Creek, Lucky Friday, Casa Berardi and San Sebastian units. It is focused on its San Sebastian project; North Idaho's Silver Valley; Greens Creek unit on Alaska's Admiralty Island; the silver-producing district near Durango, Mexico; the Abitibi region of north-western Quebec, Canada; the Rock Creek and Montanore projects in northwestern Montana and the Creede district of Southwestern Colorado. It produces zinc, lead and bulk flotation concentrates at its Greens Creek unit and lead and zinc flotation concentrates at its Lucky Friday unit.
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HL
