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FCX

FCX Buying Opportunity coming upReasons for likely short pull back : FCX is encountering a historical/psychological resistance @ ~$40. FCX is at the top of its current Pitchfork price channel. FCX is overbought (above 75 on RSI). Reasons for likely recovery : Fundamental Analysis - there is a shortage of copper for surge in post COVID extreme lockdown manufacturing. - copper is an essential element in the production of most electronics, especially EV/alternative energy - also crucial in normal combustion vehicles Sentimental Analysis - FCX just avoided being purchased by a faltering company Barrick Gold, investors responded well to that - industry news points to continued increases in demand for copper in EV/alt energy - FCX just posted a surprise positive 24% in earnings with no signs of diminished performance moving forward Technical Analysis - FCX has established a strong price channel since its low point during the initial COVID sell off - FCX has been over 70 on the daily RSI 7 times since the COVID sell off and has risen in value over 600% PLAN Entry Price: $32 TGT Sale Price: 1st - $44, 2nd - $49, Final- $55 Stop Loss: $24 or breaks the price channel Max Position Size: 5% of portfolio Note - recent administration tax executive order may cause more severe market correction. Watch for signs of more dramatic pull back before entering long.
NYSE:FCXLong
by MakeMoneyCoESTB2020
3
Copper - Just the BeginningCopper futures broke out of their wedge this week, with per tonne prices breaking the $10,000 milestone. Names such as Freeport-McMoran (FCX) are benefitting from this, while TRQ is on discount due to. setback in their mining process. Despite Fed tapering, copper is strong, surprisingly. I believe that now is the time to get in "The New Oil", as stated by Goldman Sachs, who gives the commodity a 50% upside before 2025. If copper moving 10% has resulted in Freeport going from $30 to $39, think of what will happen if Goldman and the rest of the Street is right... Thesis: Goldman Sachs recently published a note declaring copper "the new oil," and forecasting it could reach $15,000 (50% inc.) by 2025 as the world transitions to clean energy. As the movement to sustainability/clean energy progresses, the exponential increase in demand for copper will outrun supply due to slow mine creation, centralized property rights. Although it may take a few years and experience some drawdown, depleted inventories and a demand spike will likely cause the price to rise significantly over the next decade, with Bank of America suggesting a possible 100% increase to $20,000 per metric ton by 2025. Overall sentiment on the Street is extremely bullish in the mid-to-long-term.
COMEX:HG1!Long
by nickygin
NEW POSITION $FCX Target 45.95 for 21.92% $FCX Target 45.95 for 21.92% Or double position at 29.43 — On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average. I start every position with 1% of my account and build from there as needed and as possible. I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed. GL and happy trading.
NYSE:FCXLong
by SPYder_QQQueen_Trading
2
FCX by requestI made a key code of the price action then found an exact match to this move in the past.... one that matched at lease 95% or better. That way if the move is that close to the same shape we have now it must mean the sentiment of the market was the same at that time. Therefore, the outcome should be the same coming out of the move. I then used PTP which is Past Trend Prediction by tracing the trend it made after this move in the past and projecting it forward on to the current move. Then I took the same move on the Daily which is a different Time frame then the first..and found the same move with out a key and traced its path and projected it forward as well. Sometimes I use about 5 other Price Action tricks I have have developed over the last 10 months or chart out the Curve and what Stage it is in. The Curve is my own brain child and I compare that to Wycoff method. Taking all of these into account You have several different approaches to confirming direction and intent of the institutional buyers and where Retail resides during this move. If you would like to have more information or videos on Any of the ways I chart pls comment below. Like, follow, Subscribe...share. Thank you, iCantw84it 06.08.2021
NYSE:FCX
by iCantw84it
1
Recommended portfolio for the next 2 weeks!The ideas behind this portfolio are: 1- Benefiting from possible 6 trillion dollars infrastructure bill. 2- Being properly hedged using commodities. 3- Having exposure to the Tourism industry, apparel, and increased demand for gas in post-pandemic era. My recommended asset allocation: 50% stock: 25% cash: 25% Gold: 0 Cryptocurrency NYSE:VALE NYSE:RIO NYSE:SCCO NYSE:CLF NYSE:X NYSE:FCX NASDAQ:ABNB NYSE:UA NYSE:XOM NYSE:AON Use trailing stop loss..!
NYSE:VALELong
by Moshkelgosha
4
FCX on commodities/copper risingFCX is currently sitting above a support area so we wouldn't call this the absolutely best trade. That said, maybe a 2% max trade risk on it hitting the Stop-loss while keeping in mind that other ideas are available and better. However, if it does make a strong move off support, moving the TP higher and SL to breakeven will turn an ok trade into a great Reward/Risk trade. This is also a good re-entry or a place to add to a buy and hold position for those of you that jumped on during the previous published idea.
NYSE:FCXLong
by Flightschool
2
Perfect Diamond Long on $FCX into AprilGet on board this most excellent trade with copper and stock seasonality on your side! FCX has has a great run this year with copper from the bottom rising 400%. This is a great and possibly final leg to get into for awhile that is perfectly balanced inside Camarilla pivots, which I would consider myself an expert in using. Copper 16YR seasonality nearing a bottom ahead of the FOMC FCX is in agreement with a bottom near this area
NYSE:FCXLong
by mortdiggiddy
21
Copper futures at 9 year highs, FCX SCCO HBMCopper futures at 9 year highs and all time high is around $4.65, FCX is the world's largest publicly traded copper producer. It is following the price of commodity. Demand for copper from renewable sector is growing as new power generation capacity addition renewable energy (China/India). Options - The March 19 $38 calls traded over 11000 times, over 34,000 in Open interest. The march put call ratio is .46. April options put call ratio - .76, probably a pull back at some point after strong move friday.
NYSE:FCXLong
by hockeysniper
1
FCX - Trend Retracement Reversal (Etoro Portfolio) Since price cross MA30 @June 2020 in weekly, it is in a strong uptrend. Price is reversed nearby MA50 (blue line) appeared a price rejection (pin bar). Next day one white soldier candle as confirmation day, stochastic oscillator indicator shown price at oversold range moving average line is toward up direction. I have a position, and look for 2R profit. ===================================================================================================================== I will be popular investor in Etoro, take a look of my portfolio and copy me to start the trading journey. My Etoro Profile: www.etoro.com Etoro Registeration Link: etoro.tw
NYSE:FCX
by ginlin84