Southern Copper (SCCO) is an integrated copper producer. The company produces copper, molybdenum, zinc and silver. All of its mining, smelting and refining facilities are located in Peru and Mexico, and SCC conducts exploration activities in those countries and in Argentina, Chile and Ecuador. This stock is trading up 4.9% at $34.19 in recent trading.
Today's Volume: 1.7 millionAverage Volume: 1.6 million Volume % Change: 120% From a technical perspective, SCCO is gapping up strong here with above average volume. This move has now pushed SCCO into breakout territory, since the stock has taken out some near-term overhead resistance at $33.61. Traders should now look for long-biased trades in SCCO as long as its trending above today's low of $32.93 with high volume. I would consider any upside volume day that registers near or above 1.6 million shares as bullish. If SCCO can maintain that trend, and its trend above $33.61, then this stock has a great chance of tagging its next significant overhead resistance level of $36.18.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV