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The zinc group of tickers has emerged as a compelling theme, captivating the attention of investors and analysts alike. This group comprises four key players: SCCO, XPL, TECK, and NEXA, and they've collectively experienced a remarkable surge, boasting a +6.64% increase in performance over the past week.
Positive Sentiment Supported by the 15 Indicators
The stocks within this Zinc group are currently basking in positive market sentiment, buoyed by the 15 Indicator, a noteworthy gauge of optimism. This positive sentiment has been further validated by Tickeron, a respected source for market predictions. Tickeron predicts an additional increase of over 4.00% for this group in the next month, with a robust likelihood of 79%. Such projections are music to the ears of investors seeking profitable opportunities.
Market Capitalization Diversification
One notable aspect of this theme is the diversity in market capitalization among the group members. On average, these companies boast a market capitalization of approximately $21 billion. However, the range is wide, spanning from $40.6 million for XPL to a staggering $61.3 billion for SCCO, making it the heavyweight in this group. The breadth of market capitalization within this theme highlights the array of investment opportunities available in the Zinc sector.
Price Performance and Noteworthy News
The price performance of Zinc-related stocks has been impressive. Over the past week, the average price growth across all stocks in this group was a solid 5.87%. However, it's important to note that the monthly and quarterly averages were even more compelling, standing at 12.59% and 14.13%, respectively. NEXA stands out as the top performer, with an impressive price growth of 13.09%. In contrast, XPL experienced a slight dip of -0.07%.
Analyzing volume fluctuations provides valuable insights into investor interest and activity in these stocks. On a weekly basis, the average volume growth across all stocks in this group was a remarkable 108.31%. The monthly average was even more striking at 270.87%, indicating a significant increase in trading activity. However, it's worth noting that the quarterly average volume growth was -26.65%, reflecting the inherent volatility in these stocks. Notably, there were instances of exceptional volume increases, such as NEXA Resources SA experiencing a record-breaking daily growth of 813% of the 65-Day Volume Moving Average on 7/27/23.
Key Ticker Analysis
Let's take a closer look at three of the key tickers within this Zinc theme:
SCCO's Upward Trajectory: SCCO made a notable move by rising above its 50-day Moving Average on September 14, 2023. This shift indicates a transition from a downward trend to an upward one. Historically, in 35 of 44 similar past instances, the stock price continued to rise within the following month. The odds of a continued upward trend currently stand at 80%. SCCO's current price is $79.77, trading between $80.45 resistance and $65.46 support lines. Over the past month, it experienced a minor downtrend but is showing a positive uptrend for the week.
XPL's Bullish Momentum: XPL demonstrated a strong bullish signal when its 10-day Moving Average crossed above the 50-day moving average on August 10, 2023. This pattern suggests an upward trend and has historically been associated with further price increases. In 15 of 16 similar past instances, the stock continued to move higher over the following month. The odds of a sustained upward trend are currently at an impressive 90%. XPL's current price is $0.57, trading between $0.59 resistance and $0.56 support lines. It experienced a minor downtrend over the past month and a slight decline during the week.
TECK's Promising Trend: TECK has exhibited a bullish trend as its 10-day Moving Average crossed above the 50-day moving average on September 12, 2023. This shift signals a potential buy opportunity and has historically resulted in further price gains. In 13 of 15 similar past instances, the stock continued to move higher over the following month. The odds of a sustained upward trend currently stand at 87%. TECK's current price is $44.00, trading between $47.31 resistance and $33.94 support lines. Over the past month, it experienced a significant uptrend and continued to show positive growth during the week.
In summary, the Zinc sector, represented by SCCO, XPL, TECK, and NEXA, has been making waves in the financial markets with its impressive performance. Positive indicators, diverse market capitalization, and substantial price growth have attracted investors seeking opportunities in this theme. As always, it's essential for investors to conduct thorough research and consider their investment goals before making decisions in this dynamic sector.
The 10-day RSI Oscillator for TECK moved out of overbought territory on September 18, 2023. This could be a sign that the stock is shifting from an upward trend to a downward trend. Traders may want to look at selling the stock or buying put options. Tickeron's A.I.dvisor looked at 34 instances where the indicator moved out of the overbought zone. In of the 34 cases the stock moved lower in the days that followed. This puts the odds of a move down at .
The Momentum Indicator moved below the 0 level on September 21, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on TECK as a result. In of 89 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for TECK turned negative on September 21, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 51 similar instances when the indicator turned negative. In of the 51 cases the stock turned lower in the days that followed. This puts the odds of success at .
TECK moved below its 50-day moving average on September 21, 2023 date and that indicates a change from an upward trend to a downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where TECK declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
TECK broke above its upper Bollinger Band on September 14, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Stochastic Oscillator is in the oversold zone. Keep an eye out for a move up in the foreseeable future.
The 10-day moving average for TECK crossed bullishly above the 50-day moving average on September 12, 2023. This indicates that the trend has shifted higher and could be considered a buy signal. In of 15 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where TECK advanced for three days, in of 295 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 241 cases where TECK Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.061) is normal, around the industry mean (6.456). P/E Ratio (10.460) is within average values for comparable stocks, (97.855). Projected Growth (PEG Ratio) (0.742) is also within normal values, averaging (3.103). Dividend Yield (0.019) settles around the average of (0.061) among similar stocks. P/S Ratio (1.923) is also within normal values, averaging (225.893).
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 87, placing this stock better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. TECK’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating slightly better than average sales and a considerably profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a company that engages in mining and mineral development of copper, coal & zinc
A.I.dvisor indicates that over the last year, TECK has been closely correlated with FCX. These tickers have moved in lockstep 70% of the time. This A.I.-generated data suggests there is a high statistical probability that if TECK jumps, then FCX could also see price increases.