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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 million
Average 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.