Hecla Mining Downward Momentum Looks to Continue (HL)
SmarTrend identified a Downtrend for Hecla Mining (NYSE: HL) on January 21, 2010 at $5.59. In approximately 4 weeks, Hecla Mining has returned 5% as of today's recent price of $5.31.
Hecla Mining is currently below its 50-day moving average of $5.95 and should find support at its 200-day moving average of $4.34. 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 Hecla Mining.
Write to Chip Brian at cbrian@tradethetrend.com
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