SCCO has been in a persistent downtrend since January of this year. During that time the stock has also formed an important trend line of resistance (red). Always remember, any (2) points can start a trend line, but it’s the 3rd test and beyond that confirm its importance.
Southern Copper Corporation engages in mining, exploring, producing, smelting, and refining copper and other minerals in Peru, Mexico, and Chile. It is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce anode copper; and refining of anode copper to produce copper cathodes,… Continue Reading »