SCCO - the Copper Miner

I follow many dozens of large and small miners, SCCO is one of the bigger ones, with a cap' of around $25bn. With a net profit margin of 34%, and a dividend yield of around 2.4%, its a pretty good miner and its stock price is holding up reasonably well, despite the recent weakness in copper prices.

Key Stats, see: http://finance.yahoo.com/q/ks?s=SCCO+Key+Statistics


SCCO, daily

SCCO floored in early March in the 29s, and is now stuck in a narrow range. A break under 29, would open the door to the next primary level of 25/26.

As it is, most indicators are suggesting at least a little more weakness into next week.

If the market can floor no lower than sp'1370, then SCCO should hold the earlier March low. As previous up cycles all display, when SCCO starts moving up, it can do so very fast.


A brief look at Copper prices...

Copper, 2yr, weekly

I'm still looking for one final wave up, but...if Copper can break below 3.60, then that will wreck this particular count, and we could see a series of significantly lower weekly closes.