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FCX

Copper & Oil : Are commodities about to surge? Copper is showing great pattern consolidation. it appears to be putting in a daily bull flag pattern that looks poised to breakout. If copper follows some of the other recent price action in the commodity space it makes it even more likely to surge., You're seeing #gold #uranium #oil and other all performing well. Will this dampen and slow down the dis inflation expectations? Perhaps. I am long SCCO with members and have already secured some profits today with members. I do think there is more strength to come in copper.
BLACKBULL:WTI
by Trading-Capital
1
Technical Analysis of Freeport-McMoRanLong Position Entry Point: Consider entering a long position if the stock breaks above the resistance level of $51 with significant volume. Price Target: Initial target at $55.98 (11.80% upside), with a potential extension to $60 if the bullish momentum continues. Stop Loss: Place a stop loss below the recent support level at $47 to mitigate downside risk. Short Position Entry Point: Consider a short position if the stock falls below $48, indicating a break of the consolidation phase on the downside. Price Target: Short-term target at $45, with a possible further decline to $42 if bearish momentum gains strength. Stop Loss: Place a stop loss above the resistance level at $51 to protect against a potential bullish breakout. The MACD level is positive at 0.21, suggesting bullish momentum. Stochastic RSI: At 58.78, it remains neutral but is edging closer to the overbought territory, indicating potential for a slight upward move before any significant correction. Commodity Channel Index (CCI): Neutral at -8.41, showing no significant overbought or oversold conditions. Given the current neutral stance of various technical indicators, the market seems to be in a wait-and-see mode. Investors should keep a close watch on upcoming earnings reports and any significant news in the commodities market, particularly concerning copper and gold prices. A breakthrough in either direction from the current consolidation range could provide a clear trading signal.
NYSE:FCX
by AxiomEx
COPPER Commodity or Junior Miner trade LONGCopper prices rise when the economy is thought to be growing and needing more electrical infrastructure while they fall when bearish indicators might project a recession. I am at the aluminum and finished steel subsectors as well. FCX is under consideration but as a large cap it does not have the volatility of the junior miners. In the meanwhile COPJ, CPER and COPX look like they are worth considering given the trend up since mid-February. The chosen strength and trend indicators confirm the trend. This is a long trade and sector rotation play for those to consider that are tired of tech stocks and earnings plays.
NASDAQ:COPJLong
by AwesomeAvani
EXK will run as long as silver moves higher LONGEXK is a junior miner. With fixed expenses in its mining operations for the most part, margins rise dramatically when silver is rising and the opposite is likewise applicable. This is the crux of using junior miners as a means to profit from trending in precious metals. As a penny stock EXK has hieghtened volatility as compared with Barrock Gold or the GLD ETF. there are other junior miners. EXK has added 40% to its market cap in two weeks. Until the momentum of spot silver fades, EXK will continue its momentum. I will add to my long position here and fortify the call option position as well.
NYSE:EXKLong
by AwesomeAvani
4
Freeport-McMoRan's Golden Surge: A Deep Dive into Q4 Earnings Freeport-McMoRan (NYSE: NYSE:FCX ) has recently reported a robust performance in its fourth-quarter earnings, surpassing Wall Street estimates and revealing a 10% increase in gold production for the year 2023. This article explores the key highlights from Freeport's financial report, analyzes the factors contributing to its success, and delves into the company's outlook for the future. Strong Financial Performance: Freeport-McMoRan's Q4 net income of $388 million or $0.27 per share exceeded analysts' expectations, showcasing a resilient performance despite challenging market conditions. The company's adjusted net income of $393 million further underlines its financial strength. Revenue Growth and Production Boost: The company reported a revenue of $5.905 billion for the October to December period, marking a notable increase from the previous year. Freeport attributes this growth to a substantial increase in copper production, with 1.095 billion pounds mined in Q4 2023 compared to 1.070 billion pounds in the same quarter of 2022. Gold Production Surge: Freeport's gold production witnessed a remarkable surge, with 573,000 ounces produced in Q4 2023 compared to 472,000 ounces in the same period of 2022. The annual gold production of 1.993 million ounces in 2023 reflects a strategic focus on diversification and capitalizing on the robust gold market. CEO's Optimistic Outlook: Freeport-McMoRan's ( NYSE:FCX ) CEO, Richard Adkerson, expressed optimism about the company's future, emphasizing a focus on operational excellence and investment plans. Adkerson highlighted the team's success in 2023 and outlined strategic initiatives for 2024, with a commitment to enhancing the long-term value of the company's assets. 2024 Projections and Market Impact: The company projects consistent copper production in 2024 and anticipates further growth in gold. Consolidated sales volumes are expected to reach 4.1 billion pounds of copper and 2.0 million ounces of gold. The positive outlook has contributed to a rally in NYSE:FCX stock, with a 5.9% gain and a breach above key moving averages. Cost Management and Capital Expenditure: Freeport-McMoRan remains committed to cost discipline, projecting an average cost of $1.60 per pound of copper in 2024. Additionally, capital expenditures are expected to decrease to $4.6 billion, reflecting prudent financial management and the nearing completion of the Indonesia smelter. Technical Analysis and Investor Sentiment: NYSE:FCX stock's impressive rally, reaching a 5.9% gain, indicates positive investor sentiment. NYSE:FCX is in a potential bullish trend, with the stock surpassing the converged 50- and 200-day moving averages. The emergence of a handle with a buy point at 43.42 further adds to the intrigue for potential investors. Conclusion: Freeport-McMoRan's ( NYSE:FCX ) stellar Q4 performance, driven by increased copper and gold production, sets the stage for a promising 2024. CEO Richard Adkerson's optimistic outlook, coupled with prudent cost management and strategic initiatives, positions the company for sustained growth. As global economic conditions evolve, Freeport-McMoRan's success becomes not only a testament to its operational excellence but also a beacon for investors seeking opportunities in the mining sector.
NYSE:FCXLong
by DEXWireNews
FCXThe technical pattern is easy to understand the initial shock to lower prices in the $34 area bottom and the bounce off the bottom and now we must digest. The fundamental analysis is also very easy to understand, with recession we see lower copper demand and hence prices. B ut we are dealing with the largest copper miner in the world and we should have expected the drop and when the turn came we should have bought. We should ride the trend until the MA crosses over.
NYSE:FCXLong
by jdouglas020
1