Stock in Focus: Semirara Mining (SCC)

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Semirara Mining Corporation (stock symbol: SCC) has recently reached a new high after carving out a possible near-term bottom back in June.

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Philippine Stock Exchange, Semirara Mining_SCC Daily chart, September 9, 2014

SCC Daily chart, September 9, 2014

NOTE: My last post on Semirara Mining was over 5 months ago. If you want a monthly analysis of this stock (and all PSE Index stocks plus 10-20 bonus analysis articles), you should consider getting a Premium Subscription. If you join us, you get to learn while supporting school kids!

Semirara or SCC vaulted to a new all-time high Wednesday last week to 143.80, only to close the day lower and start a mini-decline in this stock. So far 130 is holding. If we don’t see a meaningful bounce soon, SCC could move toward the 115-120 area. A strong move through 115 would be a huge setback for bulls.

The Detrended Price Oscillator (DPO) has been pulled back below the zero level as price continued to ease from new highs.

Do you have SCC in your portfolio? Share your thoughts below!

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