user warning: Table './fnndrupaldev/term_node' is marked as crashed and last (automatic?) repair failed query: SELECT t.* FROM term_node r INNER JOIN term_data t ON r.tid = t.tid INNER JOIN vocabulary v ON t.vid = v.vid WHERE r.vid = 492401 ORDER BY v.weight, t.weight, t.name in /var/www/www.fnno.com/htdocs/modules/taxonomy/taxonomy.module on line 617.

Southern Copper Crosses Above its 10-day MA (SCCO)

Published on Fri, 05/03/2013 - 11:14
By Peter Chu

Southern Copper (NYSE:SCCO) crossed over its 10-day moving average of $32.97 on a volume of 808K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, Southern Copper share prices have been bracketed by a low of $27.72 and a high of $42.03 and are now at $33.97, 23% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.3%.

There is potential upside of 26.7% for shares of Southern Copper based on a current price of $33.97 and an average consensus analyst price target of $43.05. The stock should run into initial resistance at its 50-day moving average (MA) of $35.50 and subsequent resistance at its 200-day MA of $35.90.

Southern Copper Corporation conducts mining operations in Peru and Mexico. The Company owns and operates open pit mines and metallurgical complexes that produce copper, molybdenum, zinc, and precious metals.

By Peter Chu
pchu@fnno.com

Latest News from FNNO

Recent 52-Week High Exceeded in Shares o...

Verint Systems (NASDAQ:VRNT) traded at a new 52-week high today of $57.08. So far toda ...

Ternium: New 52-Week Low Set Today (TX)...

Ternium (NYSE:TX) traded today at a new 52-week low of $23.64. So far today approximat ...

TTM Technologies: New 52-Week Low Set To...

Shares of TTM Technologies (NASDAQ:TTMI) traded today at $6.71, breaking its 52-week lo ...

Watch for Continued Gains in Shares of T...

Shares of Teekay (NYSE:TK) traded today at $67.98, breaking its 52-week high. Approxim ...

Shares of TICC Capital Fall Below Previo...

Shares of TICC Capital (NASDAQ:TICC) traded today at $8.83, breaking its 52-week low. ...

Shares of Syngenta Fall Below Previous 5...

Syngenta (NYSE:SYT) traded at a new 52-week low today of $63.26. So far today approxim ...

Sohu.com: The Losing Streak Continues (S...

Shares of Sohu.com (NASDAQ:SOHU) traded today at $50.75, breaking its 52-week low. So ...

Synchronoss Technologies: The Winning St...

Synchronoss Technologies (NASDAQ:SNCR) traded today at a new 52-week high of $46.74. T ...