Clive Maund
gold, silver, & oil shares
HECLA MINING update...
originally published June 3rd, 2009Hecla Mining has put in a good performance since it was recommended on the site towards the end of March in the $2.00 area, breaking out of a Double Bottom base area and advancing even some way beyond a still falling 200-day moving average. Yesterday, however, it dropped sharply on heavy turnover, a move which is interpreted as signaling that the current intermediate uptrend is over and a sizeable reaction may be beginning, which fits with silver looking set to react having arrived at a zone of strong resistance in an overbought state. As we are up some 74% on this trade even after yesterday's drop, it is considered wise to book our profits immedaitely and await developments - Hecla could react back to the $2.70 area where we could consider buying back in. TAKE PROFITS.
Hecla website
Hecla Mining Company HL, closed at $3.48 on 2nd June 09.
Posted at 9.30 am EDT on 3rd June 09.
© 2004-2010 Clive Maund. Legal & Disclaimer
for billing & subscription questions: subscriptions@clivemaund.com
for all other inquiries: support@clivemaund.com
The above represents the opinion and analysis of Mr Maund, based on data available to him, at the time of writing. Mr Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities.
Mr Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications.
Although a qualified and experienced stockmarket analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr Maund’s opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.