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FCX

Long FCX ( $GLD $FCX #GOLD $GC1! $GC_F $Spy $GOLD $XME)see full chart at www.tradingview.com FCX Entry $15 Target 1 $17 Target 2 $20 stoploss $13 Why? Why it is a buy? Stimulus bill #2 will eventually come out by 2021, Along with FOMC mentioning that they will allow inflation to run wild. what that means is that, the fundamental value of GOLD and other minerals will increase in price. While everyone is focus on gold, and silver, they are missing out on Copper. so I think it is defiantly an laggard and we could catch a nice buying opportunity still. Who are they? Freeport-McMoRan, Inc. engages in the mining of copper, gold, and molybdenum. It operates through the following segments: North America Copper Mines; South America Mining; Indonesia Mining; Molybdenum Mines; Rod and Refining; Atlantic Copper Smelting and Refining; and Corporate, Other, and Eliminations. The North America Copper Mines segment operates open-pit copper mines in Morenci, Bagdad, Safford, Sierrita and Miami in Arizona; and Chino and Tyrone in New Mexico. The South America Mining segment includes Cerro Verde in Peru and El Abra in Chile. The Indonesia Mining segment handles the operations of Grasberg minerals district that produces copper concentrate that contains significant quantities of gold and silver. The Molybdenum Mines segment includes the Henderson underground mine and Climax open-pit mine, both in Colorado. The Rod and Refining segment consists of copper conversion facilities located in North America, and includes a refinery, rod mills, and a specialty copper products facility. The Atlantic Copper Smelting and Refining segment smelts and refines copper concentrate and markets refined copper and precious metals in slimes. The Corporate, Other, and Eliminations segment consists of other mining and eliminations, oil and gas operations, and other corporate and elimination items. The company was founded by James R. Moffett on November 10, 1987 and is headquartered in Phoenix, AZ.
NYSE:FCXLong
by WallSt007
FCX in correlation with XLB DividendHistorically NYSE:FCX has been bearish the week of or week leading into AMEX:XLB dividend. Shown here is its support and resistance, movement this summer, along with selloff in correlation to XLB dividend dating back to Dec 20, 2019. Materials and metals have popped this year with AMEX:GLD taking charge earlier this summer. FCX has beat earnings expectations all year and that if that trend could continue FCX could see more upside. After a strong finish to the week, I like FCX for to make a quick turnaround going into October along with SLV and other materials, as I believe can still serve as a strong hedge as we near elections.
NYSE:FCXLong
by crawfordpaul
FCX Apr29 to May12 Bear-Flag formation - Short SellBetween April 29th and May 12 a clear short term bear flag appears to be forming. Long term there appears to be an underlying bullish symmetrical triangle that began forming back in Feb 2020. This underlying bullish triangle would normally be of concern, yet the SPY has a similar formation which is a long term Bear Flag that began forming in February and as of May12, it appears the SPY is ready for a correction (follow through) with the longer term bearish pattern since the lower support has broken. Thus, the short term (Apr29 to May12) Bear Flag that is forming in FCX should be valid. Risk to reward is at approx. 23% on the downward move and 4% on an upward move. I like those odds. I bought 120 June5 puts at a strike of $8; I plan on exiting 1/2 of my position if/when the underlying FCX stock reaches my target of 8.23 and empty the rest of my position at 7.38 to close my position. At, or around, 7.38 I plan on going long to take advantage of the dead cat bounce... On the chart you may notice an "M" formation forming... 7.38 would be the bottom of the last leg of the "M". I expect the stock to bounce to around 8:40 and then return on it's journey southward to test it's 3 month low of 4.88. I plan on swing trading this to the bottom to increase profit margin on the plan. When the stock reaches 8.40 after it's dead cat bounce, I plan on re-entering into a put position with an expiry of Jul20. Initial investment $2540.00.... First leg expected profit $9500.00.... dead cat bounce expected profit $2500... expected long drop to test the 4.88 low profit $14,000.00... I will update this post as the game plan plays out. *** This is not investment advise and is only for analysis purposes. I am a novice and am posting this for critical feedback to make sure my strategy is sound.
NYSE:FCXShort
by gregg1972
2
Copper is showing weakness Hello, from what I’m seeing it’s showing head and shoulders in the 1 hour chart indicating further drops to copper by EOW and big boy companies like FCX should feel the burn real soon. We see the right shoulder bigger than in the RSI and the left shoulder smaller than the one in the rsi showing us kind of a hidden divergence of a future downtrend that’s about to take place within the next two days. I’ll watching some puts with deltas over -0.50 that can make me a quick buck. We saw today an example of a dip today from 9:30 till 10:55. Made a nice put in the morning on FCX and you can tell I’ll be watching it side by side with copper to decide further trades. Also, we need to see what China is doing with there copper as well as there is bad news for this mineral even though we are experiencing an influx of copper like oil but is being treated like oil over there for someone reason. We should see confirmation of a downtrend tomorrow touching 2.330 even 2.326 if it’s a big sell off.
FX:COPPERShort
by miami95
ominous giant wedgehad expected this to break to the north.. those new xtra large red bars are making me wonder about south. Always amusing looking back at these things .. lot of grand visions of tight supply and never ending demand. thats not what the traders think. What happens to the spy if copper tries for $2.00? Fed pump keep balloon in the air? sales team looking strong here. tempo starting to ramp up. start looking for chairs? Maybe just quick case of wu-flu and back to biz in a week or two? Any thoughts?
COMEX:HG1!
by leftey
1