Southern Copper (SCCO)

May 28, 2021Trade Ideas

After pulling back to triple bottom support, Southern Copper (SCCO) has become oversold on RSI, MACD, and Williams’ %R. With supply still low, and demand on the rise, copper and related stocks could push even higher. In fact, according to investment firm, CFRA, as noted by CNBC, “The copper bull run could be just beginning, as Chinese demand, the push toward decarbonization and South American supply risks converge.”

Bank of America remains bullish on copper, saying it could push to $20,000 per metric ton by 2025. Goldman Sachs says copper is “the new oil” and also believes it could rally to $15,000 per metric ton by 2025.


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