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FCX

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
FCX updateNYSE:FCX Revision to previous chart/idea. After earnings, fcx took a dump, thanks to corona virus news, copper prices dropping, and overall index weakness. Not really sure how the market will react to fed day on wed. Assuming its not too bad, i think the bullish pattern continues. FCX is on sale and could be a good long term entry. With production in Indonesia ramping up and a return to bullish copper prices we could easily hit $60 a share in a couple years. On the other hand, if the fed disappoints and virus business continues to spook the market we might be headed to single digits (something that I have been waiting and watching for) before heading back to ATH's. Something tells me we keep the boat afloat a while longer. Playing it day by day. I apologize for the "busy" chart. I am still learning to chart and finding what works for me and what to pay attention to. I have another chart on investing.com that is a bit cleaner if you care to see it. What are your thoughts?
NYSE:FCX
by The_Real_AMF
FCX longShort update. Please reference my first FCX chart for my initial thoughts. The current rally is sitting roughly at 78.6% retracement of the prior move from April 16th of 2019. As you can see we paused a little bit and consolidated after the initial move up from $8.30 (which also resulted in a pause/sideways movement). I'm looking for AT LEAST a movement to the 100% retracement at 14.51 which is currently serving as resistance from Aug-Sept double top. This level also lines up with the 2.272, 2.414, and 2.618 fib cluster extension of the prior swing high-low. I'm looking for a small retracement of the last (second red line) movement. As you can see this movement already flagged a bit and after todays late day pump im expecting a little relief before wednesdays announcement of china trade deal. Assuming things go okay with the signing and whatnot, I think we will at least see the 1.272 or 1.618 extension by spring/summer. One thing to keep in mind is that FCX earnings are on Jan 23rd. Im expecting a small beat or miss. I need to refresh my memory but the prior earnings were a miss or barely beat but the FCX continued upwards on china talks and futures pumping. Earnings are turning around and production is ramping up with the opening of new deep mine in Indonesia. What are your thoughts?
NYSE:FCXLong
by The_Real_AMF
2
FCX sin fuerzas para definir por ahora. FCX contra resistencia de la cuña bajista de corto plazo que se mueve dentro de un movimiento bajista de más largo plazo. Mientras mantenga la zona de 10.20/10.10 aún quedarán chances de romper al alza para ir a buscar los 12/12.15. Si no puede mantenerse por encima de este soporte inmediato, es muy probable que vaya a la zona de soportes de mayor importancia en los 9.60/9.50. La salida alcista se daría sobre los 10.80 y la confirmación arriba de 11. Los indicadores muestran dudas. El RSI aceleró más que el precio en las últimas ruedas pero con freno en la zona de ingreso a sobrecompra. MACD se mantiene al alza pero recprtando el histograma. Estando comprado, vendería contra resistencia y espero resolución. Estando afuera, compro con la confirmación encima de 11 o llegando a la zona de soporte más importante en los 9.60/9.50.
NYSE:FCX
by tttcapital
British Pound Will Move Up Against the U.S. DollarThe British Pound has been challenging strong resistance with increasing volume. Looking at the chart long term, weekly time frame, I am getting signals telling me that it might move up against the U.S. Dollar, here is why: Now trading above EMA10 and EMA50. Hitting higher lows since October 2018. Increasing bullish volume. Bullish RSI. MACD trending up and entering the bullish zone. Looking at the U.S. indexes, such as the SPX, can support the findings on this chart. You can see my latest analysis here: Russell2000 (RUT): Conditions for change: If the October 2018 low is taken out, then this analysis would become invalid and a new one is needed. Feel free to hit like to show your support. Thanks a lot for reading. Namaste.
Education
by MasterAnanda
THE WEEK AHEAD: M EARNINGS, XOP, TSLA, FCX, X, TWTR, BIDUPictured here is the only earnings announcement-related volatility contraction play with the metrics I'm looking for: greater than 70% rank and greater than 50% 30-day (it was 68/55 as of Friday close). Setup Metrics: 3.40 credit, break evens at 20.60/27.40, -8.20 delta, 3.1 theta. Obvious alternatives would be the April 18th 21/27 short strangle paying 1.21 with break evens at 19.79/28.21, a delta of -4.5, and theta of 2.43 and -- for those with a defined risk bent -- the 19/22/26/29 iron condor in the same expiry, paying 1.23 with 20.77/27.23 break evens, a -2.64 delta, and a theta of 1.15. On the exchange-traded fund front, the highest volatility remains in petro, with OIH, XOP, and USO taking the top three spots for 30-day implied at 31, 30, and 29, respectively, followed by EWZ at 29, and GDXJ at 26. With the exception of GDXJ, however, all of these are in the lower one quarter of their 52-week range (GDXJ's in the 31st percentile). As with last week, I'll continue to sell premium in XOP, albeit smaller than usual, reserving buying power for a richer volatility environment. Single names with earnings in the rear view ranked by 30-day: TSLA (12/49), FCX (24/43), X (18/43), TWTR (8/38), and BIDU (24/35). I'm in a FCX slightly bullish short straddle at 14 as a kind of quasi-bullish copper play, and have gone with a "not a penny more" short put in X (See Posts Below). As alternative plays, the X April 18th 24 short straddle is paying 2.83 (.71 at 25% max) with the 21/27 short strangle paying .84 (.42 at 50% max) The TWTR April 18th 32 short straddle is paying 3.61 at the mid (.90 at 25% max) with the 28/35 short strangle paying 1.19 (.60 at 50% max) in the same expiry. Spreads in both TSLA and BIDU are unattractively wide.
NYSE:M
by NaughtyPines