Copper is very close to losing criyical support.
If this daily chart trendline breaks, there is a big move down into the next support.
Copper Equity stocks are already teing us aa likely breakdown in the commodity is coming.
Is this base metal signaling weaker economic demand & growth?
SOUTHERN COPPER CORPORATION - 30d expiry - We look to Sell at 77.48 (stop at 81.21)
We are trading at overbought extremes.
Posted a Double Top formation.
Bespoke resistance is located at 78.70.
Resistance could prove difficult to breakdown.
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
We look for a...
Watch list for the Feb. 21 $BTAI $BURL $DOV $DKS $SYK $ESAB $STLD $NUE $BLDR $AEHR $SCCO. Earnings out front of some of these. $RXDX $MCHP $ELF and $MSI shaping up nicely.
Southern Copper Corporation has been on a tear the past 2 weeks since the China reopening news. Eventually within another week or so, copper will hit its top resistance level. Here's a SCCO 1 week chart and HG1! comparison using my TTCATR(beta) indicator set to 9 with my commodity channel index comparison indicator(beta) set to 9.
SMA50 = $58
VWMA 9...
SOUTHERN COPPER CORPORATION
Short Term - We look to Buy a break of 48.98 (stop at 45.51)
Price action produced another positive week, last week. Trading within the Wedge formation. The bias is to break to the upside. A higher correction is expected.
Our profit targets will be 58.22 and 60.00
Resistance: 48.90 / 60.00 / 80.00
Support: 46.80 / 42.00 /...
The PEAD projected a Bullish outlook for $SCCO after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 75%.
SCCO has repeated this pattern 9 times in the past and 78% of them resulted with lower weekly closes.
If history repeats again, it is possible that the SCCO will close below $47.38 this week.
Trade Idea:
Sell SCCO at market
Stop-loss: $50.18
Duration: 1 week
The PEAD projected a Bullish outlook for $SCCO after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 62.5%.
SCCO is a nice setup in my opinion. After a nice +250% rally, SCCO has formed a solid VCP pattern with nice rounded base and appears to be ready for the next leg up.
Started a position here and will add on a break above 80.
For those looking for less, risk can alarm the breakout and go long there, as we may get one more dip to shake out weak hands before more...
SCCO setting up beautifully on the weekly. Tested the breakout and is showing a hammer on the weekly. Should see nice longer term moves from this one. GLL
This is not a recommendation to buy or sell. It is for informational purposes only.
the entry on the H&S of June-January would have stopped
Now it is forming a Cup and Handle, of which the handle is a symmetrical triangle, the entrance is clear, with closure above 69,31
Here is a play on #Copper $SCCO if Biotech is too much for your blood.
Zoom out and you will see a large rounded base that goes back to May of last year.
Could be copper's turn to rip higher after #Oil and #Gold
Not only is SCCO looking to pop soon but longer term it looks to head to $83 and beyond. Great risk return here. Stop around $63-61 (lower for me) with nice upside. Im buying.
Shown here are two different fib sequences.
Thick fibs are from its "Genesis Sequence".
Thin fibs are from the "Covid Stimulus" wave.
Currently struggling against the Golden Genesis fib at $66.88
The entire world is now keenly aware of it thanks to the Pings.
So what happens here will say a LOT to a LOT of traders/holders.
Rejection here could lead to lower...
