SOUTHERN COPPER - Weekly - Technical analysis published on 05/17/2022 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : INVALID
A split or consolidation has occurred on this instrument. There is no more graph available on this analysis.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Slightly bearish
Technical indicators
22%
56%
22%
My opinion
Bearish under 60.95 USD
My targets
54.65 USD (-3.14%)
47.76 USD (-15.35%)
My analysis
The strong short-term decline of SOUTHERN COPPER reinforces the current slightly bearish trend. As long as the price remains below 60.95 USD, you could take advantage of this bearish acceleration. The first bearish objective is located at 54.65 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 47.76 USD as an objective. Crossing it would then enable sellers to target 39.68 USD. A return to above 60.95 USD would be a sign of a correction of short-term bearish excesses. In this case, you could stay away while waiting for signals indicating a reversal of the trend.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
3.9
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This analysis was given by jarias81197. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The SOUTHERN COPPER price is 56.42 USD. The price is lower by -2.24% over the 5 days with the lowest point at 54.06 USD and the highest point at 56.00 USD. The deviation from the price is +4.37% for the low point and +0.75% for the high point.54.06
56.00
56.42
The Central Gaps scanner detects the formation of a bullish gap marking the strong presence of buyers against sellers at the opening. This formed a quotation gap.
Opening Gap UP
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in Weekly of this SOUTHERN COPPER chart shows a slightly bearish trend. 60.71% of the signals given by moving averages are bearish. This slightly bearish trend could be reinforced by the strong bearish signals given by short-term moving averages. The Central Indicators scanner detects bearish signals on moving averages that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : Weekly
Bearish trend reversal : adaptative moving average 100
Type : Bearish
Timeframe : Weekly
On the 18 technical indicators analysed, 4 are bullish, 4 are neutral and 10 are bearish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Weekly
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Weekly
MACD indicator is back under 0
Type : Bearish
Timeframe : Weekly
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : Weekly
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Bullish harami
Type : Bullish
Timeframe : Weekly
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 39.68 | 47.76 | 55.15 | 56.42 | 60.95 | 66.28 | 76.07 |
| Change (%) | -29.67% | -15.35% | -2.25% | - | +8.03% | +17.48% | +34.83% |
| Change | -16.74 | -8.66 | -1.27 | - | +4.53 | +9.86 | +19.65 |
| Level | Intermediate | Major | Major | - | Intermediate | Intermediate | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 52.14 | 52.75 | 53.34 | 53.95 | 54.54 | 55.15 | 55.74 |
| Camarilla | 53.60 | 53.71 | 53.82 | 53.93 | 54.04 | 54.15 | 54.26 |
| Woodie | 52.13 | 52.75 | 53.33 | 53.95 | 54.53 | 55.15 | 55.73 |
| Fibonacci | 52.75 | 53.21 | 53.49 | 53.95 | 54.41 | 54.69 | 55.15 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 45.79 | 49.30 | 51.55 | 55.06 | 57.31 | 60.82 | 63.07 |
| Camarilla | 52.23 | 52.75 | 53.28 | 53.81 | 54.34 | 54.87 | 55.39 |
| Woodie | 45.17 | 48.99 | 50.93 | 54.75 | 56.69 | 60.51 | 62.45 |
| Fibonacci | 49.30 | 51.50 | 52.86 | 55.06 | 57.26 | 58.62 | 60.82 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 37.00 | 48.43 | 54.65 | 66.08 | 72.30 | 83.73 | 89.95 |
| Camarilla | 56.01 | 57.62 | 59.24 | 60.86 | 62.48 | 64.10 | 65.71 |
| Woodie | 34.39 | 47.13 | 52.04 | 64.78 | 69.69 | 82.43 | 87.34 |
| Fibonacci | 48.43 | 55.18 | 59.34 | 66.08 | 72.83 | 76.99 | 83.73 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 40.16 | |
| MACD (12,26,9): | -0.4100 | |
| Directional Movement: | -16.11 | |
| AROON (14): | -35.72 | |
| DEMA (21): | 64.41 | |
| Parabolic SAR (0,02-0,02-0,2): | 73.66 | |
| Elder Ray (13): | -8.69 | |
| Super Trend (3,10): | 70.26 | |
| Zig ZAG (10): | 56.56 | |
| VORTEX (21): | 0.9700 | |
| Stochastique (14,3,5): | 8.95 | |
| TEMA (21): | 62.72 | |
| Williams %R (14): | -84.92 | |
| Chande Momentum Oscillator (20): | -10.70 | |
| Repulse (5,40,3): | -5.6700 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.4300 | |
| Courbe Coppock: | 2.93 |
| MA7: | 55.26 | |
| MA20: | 60.10 | |
| MA50: | 67.77 | |
| MA100: | 65.83 | |
| MAexp7: | 61.26 | |
| MAexp20: | 64.05 | |
| MAexp50: | 62.19 | |
| MAexp100: | 57.37 | |
| Price / MA7: | +2.10% | |
| Price / MA20: | -6.12% | |
| Price / MA50: | -16.75% | |
| Price / MA100: | -14.29% | |
| Price / MAexp7: | -7.90% | |
| Price / MAexp20: | -11.91% | |
| Price / MAexp50: | -9.28% | |
| Price / MAexp100: | -1.66% |
Quotes :
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15 min delayed data
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NYSE Stocks
News
The latest news and videos published on SOUTHERN COPPER at the time of the analysis were as follows:
-
Great Southern Copper list in London to advance their two copper-gold exploration projects in Chile
-
Great Southern Copper to list in London as it advances its copper-gold projects in Chile
- Tectonic Gold Plc - Southern Copper Drilling Update
- Mexican Supreme Court ruling favors communities regarding new Southern Copper Corporation tailings dam: PODER
-
Southern Copper
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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