Southern Copper Corp (SCCO): Price Now Near $81.78; Daily Chart Shows An Uptrend on 50 Day Basis

The Hourly View for SCCO

At the moment, SCCO’s price is up $0.8 (0.98%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as SCCO has now gone up 8 of the past 10 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

SCCO’s Technical Outlook on the Daily Chart

At the time of this writing, SCCO’s price is up $2.27 (2.86%) from the day prior. SCCO has seen its price go up 5 out of the past 5 days, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe. The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. Southern Copper Corp’s price action over the past 90 days can be seen via the chart below.

SCCO

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