Southern Copper Gets Bullish Confirmation

Posted on 03/30/2012 by Evelyn Greenberg

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NEW YORK (AVAFIN) -- Shares of SCCO settled the day up $0.36 to $31.71 on heavier than average volume. On Friday the stock price crossed above the 200-day moving average indicating a likely bullish trend. This is a key development given that recent activity signals that the shares may continue to head higher in the foreseeable future. The stock has a 52-week range of $23.99 - $40.49.

Anyone observing the market will notice that investor expectations shift over the course of time. The development of support levels is probably the most discerning and reoccurring event on stock charts. Based on the pivot points, the current support and resistance levels for SCCO are $30.93 and $32.53 respectively.

Southern Copper is part of the basic materials sector and copper industry and has market cap of 26.95B. The average analyst rating for the stock is hold. Recent performance indicators show that the stock has lost 2.01% within the last month.

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