SmarTrend's Trend Spotter See Continued Downward Momentum on Shares of Southern Copper (PCU)
SmarTrend identified a Downtrend for Southern Copper (NYSE: PCU) on January 21, 2010 at $31.36. In approximately 3 weeks, Southern Copper has returned 10.8% as of today's recent price of $27.96.
Southern Copper is currently below its 50-day moving average of $32.40 and below its 200-day moving average of $28.02. Look for these moving averages to decline to confirm the company's downward momentum.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of Southern Copper.
Write to Chip Brian at cbrian@tradethetrend.com
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