Hecla Mining Company
Small-cap silver miner Hecla Mining Company (HL) is another strong example of an inverse head-and-shoulders pattern that's nearing a breakout right now.
With strength in silver prices this month and a neckline at $8.75, traders have a pretty well-defined buy trigger for this stock. Hecla is a popular trading vehicle for investors who are looking to get exposure to silver prices through junior miners -- as a result, volume should be more than adequate to generate a solid breakout trade. As was the case with Sanofi, it's necessary to wait for a push above the neckline before taking a position in this stock.
Of course, this isn't the first silver trade we've taken on in July.Hecla shows up on a recent list of 8 Mining Stocks to Watch. >>Practice your stock trading strategies and win cash in our stock game.
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