• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Stock Copper Stocks Have Lots Of Volatility
Stock

Copper Stocks Have Lots Of Volatility

by August 4, 2023
by August 4, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

The last few weeks, metals have been swinging wildly. I have been following Copper and Gold and it has been a wild ride to say the least. I’ll cover off Copper and related miners today. As we wait for the world of electric cars to consume every ounce of copper, the focus for copper mining and production remains high as inventories remain low.

One of the metal mining ETF’s is CPER, which trades like copper. It broke out to a higher high in mid July continuing a series of higher lows and highs, only to gap back down on Monday, July 17th. After a sideways week, copper surged on July 25th and tested the prior highs. In a choppy week copper darted around but closed near the highs. On Monday, July 31, Copper surged higher with a clear break above resistance. By Wednesday, all sense of a new high was gone and copper was back below the 100 MA.

There is a trend of rising highs and rising lows. The volume has been improving, but the volume this week was well outside the June period. With the PPO rolling over onto a sell signal to end the week, its an awfully hard trade to hold.

The hard part is copper is making higher highs and higher lows, but every day is sudden move either supportive or damaging, making it hard to hold. While many investors might not own copper directly, some copper miners have been a robust trade making higher highs.

The chart below is COPX, which is the copper miners ETF. Clearly, a case can be made for higher highs and higher lows. The difficult part is the opening gaps up and down every day. The high volume bars seem to be indicative of short term tops. Now that the COPX ETF is back on a sell signal on the PPO, is it worth holding the metals throughout the third quarter?

When I look at names like FCX and Southern copper, their charts look good. The FCX chart has been pushing higher since June 1 through to July 31, but the PPO is rolling over onto a sell signal again. Which way will price go now?

Looking at SCCO, the chart is even nicer. The stock is up 56% from late November 2022 and broke out to new 52 week highs last week! However, the PPO looks like it is ready for a sell signal.

The bottom line is the copper stocks have been hard to hold and with the indexes starting to retrace, the best gains in copper names might be behind us for a few months. It is so frustrating, as the stocks are just starting to make higher highs, but then rolled over in earnest to start August.

You Might Also Like
  • Macro Market Outlook and Best Options Trade Ideas!
  • Top Ten Charts for August: Two Bearish Turnaround Plays
  • American Association of Individual Investors (AAII) Hitting Bearish Extremes
  • What to Do With NVDA (And Others Like It)
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Liberal groups supporting IRS push to build government-run tax filing system
next post
Slower Job Growth, Treasury Yields, Earnings: Stock Market Looks For Support

You may also like

Sentiment And Small Caps Are A 1-2 Punch, Knocking Out...

March 3, 2024

BEWARE! META, TSLA, AMZN, MSFT & AAPL Report Earnings Next...

January 25, 2025

Three Signs of the Bear and What May Come Next!

February 19, 2025

Decode the Stock Market’s Health With This Key Indicator

February 25, 2025

Wall Street’s Hunger Games Are Now Complete

May 21, 2023

MEM TV: Major Tech Group Turns Negative

September 9, 2023

Docusign Stock: Does It Look Promising, or Still Iffy?

June 1, 2023

Utilities’ Unique Seasonal Powers: The Best Months to Invest

January 18, 2024

Smart Money Alert: The Inside Scoop on Where it’s Going

July 18, 2023

Is the Trump Rally Like the Reagan Rally?

November 11, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025
    • Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’ consumer products

      May 30, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,765 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,308 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,581)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,581)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    AppLovin’s 1,303% Rise: The Hidden Power...

    November 20, 2024

    My Favorite RSI Signal

    October 23, 2024

    Inflation, What Inflation?

    January 28, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here