Hecla Mining Company HL Trade Idea | Short Term Chart Analysis | Price Projections and Timing

Hecla Mining Company HL Trade Idea | Short Term Chart Analysis | Price Projections and Timing

[Music] this is trade planning with the SIM team from analysis to the trade idea so what we essentially do is bring you our analysis and then uh we then project out using the cycle analysis that we bring uh and this is of course one of the few analytical styles that you could be using that projects in Direction and in price and in time uh there are very very few analytical styles that actually do present uh project out in time uh and I think that uh we really do a great job at that so I’m going to bring you uh hecka Katie’s going to bring SMH uh Arby’s going to bring I have F there that’s wrong mdy sorry that’s correct and uh Matt is bring xlp so uh that’s the analysis that we have and I’m going to start it off right now uh as I bring up the chart here in numont I didn’t say numont did I well I want you to see why I’m bringing numont because the way I approach analysis is that I’m always looking at the segments I’m always looking at stocks or or ETFs in a particular segment to help me with my analysis in the case I said I’m going to bring heckla uh which is a cheape silver stock it’s been a lot cheaper in the past down in the $2 range and now it’s up in the five something range uh but I wanted to bring this uh chart first in Newmont this is cycle analysis of course and you can just look back here at these last four four and a half cycles that we’re looking at remember that Cycles are a recurring pattern of energetics in the market they are essentially created by money flows and that’s what we do is bring this so you really understand the money flows when a stock does what Newan has done here and gets up past that 78.6% after it’s been negative as you see it’s been in here coming all the way down from 86 all the way down here to $30 after it gets through that 78.6 it tells us that the money flows are changing if it would get up over that cycle Peak right over there which is somewhere up over 40 near $46 then that would really confirm it or it might just make a bullish pattern in here and then turn up here out into later in the year we’re not really sure but what the key thing I’m looking at here in numont is this big upwe that you see right there and that be came because earnings were a shocker they were really good a lot better than expected and of course that’s because there is a there is leverage in earnings in in the especially in the pre precious metal category because they have specific mining costs and those don’t really go up when the price of the metal goes up and we’re gold here at alltime highs and silver getting up near the highs we’ve seen in a while and that really has helped this company so we’re I’m really believing that we’re going to see a lot of this in all of the mining companies where they overperform I’ve made no secret I’ve been an investor for the last year in gold and silver and gold stocks and Mining stocks silver stocks Junior silver stocks I’ve got quite a bit of all of that because I have believed in what I’m seeing right now I’m just going to put up S right now for you to see also uh and S is the silver Miners and you can see in here this cycle right in here where it already got past that level and now it’s here early in this next Rising phase this is silver right here and this is the silver Miners and you can see how the silver actually creates a dominant cycle right there and now the silver miners moving up and some resistance right up here at uh past that last high and you can see that it stalled right in there but it’s really early in here it could bounce around in there and then take off again so this looks really good let’s take a look at the daily in here and this what’s really significant because I’m going to show you heckla and uh you will see that it has a similar pattern look at the strength in here you can see the slim ribbon here positive giving you momentum resumption signals on the bot bottom look over here where the slim ribbon was negative and the cycle configuration’s negative and getting resumption signals to the downside so that tells you something here you had resumption signals to the downside at the end of the cycle and it couldn’t the slim ribbon poo couldn’t come down there was a bit of a warning in there and then it turned positive here you can see how the slim ribbon gives you support as it’s doing here and here and maybe there’s another few days to the downside here before it takes off so this is the silver miners that are in just a super condition right in here so I wanted to show you that new month on the earnings the silver miners in fantastic condition the cyclical uh movement that is phenomenally good when you look at those and now let’s take a look at hecka as we look at it on the weekly and on The Daily so here’s your weekly on the left here’s your daily on the right and you can see in here as hecka has come up from roughly $3 to almost double here getting close to Six and then pulling back here close to $5 I’m just going to maximize that for you to see and you can see in here the supports where it’s getting down to the support it’s really unlikely that it’s going to get much under the $5 level here on the weekly chart and this is likely to be pushing up again with an upside Target here of six and a quarter to potentially up around $7 so that would be a pretty significant gain remember the daily chart I showed you on the miners was super positive I said maybe a few more days down here’s the Heckler chart on that and you can see on here as I look at this chart this is projecting up to that six and a427 area right there if I’m right about this being the support area right around $5 if it gets the six and a quarter it’s a 24% gain uh here and out into June is where I’m projecting that if it gets up to that $7 it’s a 38% gain so I’m projecting a gain from the trough that’s being getting ready to form in here uh of up to six and A4 to $7 up to a 24 to 38% potential profit now it would have to to ruin this it would have to come down make the low have a rally in here not get very far and then come down and take out that low that it made I I me that’s really a long shot based on everything that I showed you here earnings right over here on May 9th as you can see and that could be what actually makes this low or causes the upside Spike so I we don’t really know uh I think if it misses on earnings and comes down it’s a screaming buy I think it on earnings it just might Spike to the upside and give you that upside move so I I wanted to bring you the depth of the analysis as many of us uh or all of us do is we don’t only look at an individual stock we look at the things in relation to that particular stock that we look at and then we’re able able to use the psycho patterns uh and our uh other tools for the purpose of understanding market conditions and projecting

Enjoy a clip from the latest episode of the askSlim Market Week.

Sign up free at https://www.askslim.com and get daily info on the stock market, plus learn about our huge content and analysis on the markets.

Our current Cycle Analysis Workshop Promotion: https://askslim.com/cycle-analysis-workshop/

Hear 50-year trading pro, Steve Miller, share unique analysis and commentary on the financial markets. Slim looks at 300+ #stocks, #ETFs , #Indexes and #futures. Bull market or bear market, you’ll be amazed at these unique cycle charts, evolved from decades of work.

Check out premium memberships: https://askslim.com/membership-options/

Check out our YouTube Channel: https://www.youtube.com/channel/UCoAuxtwgh8LSHeMFqEwjgHA

Add me on twitter @askSlim
———————————————————————
Slim’s Background:
#Trader, analyst and mentor, Steve “Slim” Miller is an active trader in index futures, #gold, #silver, #bonds, oil, #dollar, euro, stocks and #options. He is also a trader coach and hedge fund consultant. Slim is a past member of the CBOE (1974), CBOT and Chicago Mercantile Exchange.

Slim looks at things differently than most market analysts. He applies his unique cycle analysis to nearly 400 widely held stocks, futures and ETFs. Learn the most unique style of technical analysis, evolved from the work of JM Hurst’s book, “Profit Magic of Stock Transaction Timing”

For investors and traders with interest in, investing, trading, swing trade, scalping, indextrading, pairs, indexes, treasury, #FOREX, #FX trading, dollar, euro, yen, pound, currency, currencies, Powell, interest rates, Fed, FOMC, recession, Great Depression, bull market, bear market, crash

Our interests
Brokers: TDA, TD Ameritrade, thinkorswim, Schwab, Etrade, Fidelity, Tastyworks, robinhood, webull,

Charting: stockcharts, barcharts, tradingview

Strategies: swing #trading, scalping, #investing, investments, fxtrading, fx trading, fx signals, crude oil, bullish, bearish, options, option trading, spreading, pair trading, vertical spreads, butterfly spreads, iron condors, strangles, straddles, diagonal spread, delta, Vega, Gama, theta, option decay, leverage ETF

Election: Biden, Trump