FCX will reach $60 in 2021
Updated
I am now 70% confident that FCX will reach $60 in 2021.
Technical Reasons:
1. recent relative strength in price action. Compared with most NASDAQ stocks, FCX has already recovered from the lows, as of today.
Fundamental Reasons:
2. Economic recovery, especially manufacture of e-car will need cooper, so high demand
3. With that much dollar floating everywhere, inflation is coming, so the price of raw materials will go up.
Technical Reasons:
1. recent relative strength in price action. Compared with most NASDAQ stocks, FCX has already recovered from the lows, as of today.
Fundamental Reasons:
2. Economic recovery, especially manufacture of e-car will need cooper, so high demand
3. With that much dollar floating everywhere, inflation is coming, so the price of raw materials will go up.
Trade closed manually
Seems like FCX lost its steam in short term. I still think FCX will reach $60 in 2021-2022, but I'm out for now - before I make sure it does not do what happened in Nov 09-Aug 10.Trade active
got back in with 2023 calls. Very obvious higher lows.
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