Analyzing the options chain and the chart patterns of FCX Freeport-McMoRan prior to the earnings report this week, I would consider purchasing the 38usd strike price at the money Puts with an expiration date of 2024-2-2, for a premium of approximately $1.29. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Freeport-McMoRan's relatively strong position significant producing assets in the U.S. and Indonesia and expansion opportunities puts it in a somewhat stronger position. In short, the outlook for copper prices is good They are forecasting steady annual sales growth. 2023 is expected to be an even stronger year than 2022, and 2024 is expected to be weaker...
After FCX took the key 48 Level with volume, its clear they s/r flipped it and are looking for ATH around 62. Do they get there this week? Watch to see what we think!
Freeport-McMoRan, Inc. ( NYSE:FCX ) Sector: Non-Energy Minerals (Other Metals/Minerals) Market Capitalization: 60.381B Current Price: $41.13 Breakout price: $41.60 Buy Zone (Top/Bottom Range): $39.00-$36.75 Price Target: $45.90-$46.20 Estimated Duration to Target: 71-80d Contract of Interest: $FCX 3/18/22 45c Trade price as of publish date: $1.93/contract
Freeport is in a consistent uptrend and now pulling back. it was building a short low base and breaks out now. Supported by the SMA20 realistic target at expanded fibo?
Hi mates NYSE:FCX is perfect setup for long in bullish flag here is data for my trade: ------------------------Trade setup --------------------------- Entry: 33.80 Stop Loss: 32.45 Profit target: 43.60 ------------------------------------------------------------------ If you like the idea, do not forget to support with a 👍 like and follow. Leave a comment that...
Flat correction in Downtrend Weekly Reversal and Uptrend Daily Strong Uptrend Price in 5th Elliot wave. Looking for pullback and open position. Positive earnings on Q3 will help to continue uptrend with steam It is little bit risky active due to has Debt/Equite=1.1 However Freeport has other attractive financial stats, looking comptetive in sector...
Montly Flat correction in Downtrend Weekly Reversal and Uptrend Daily Strong Uptrend Price in 5th Elliot wave. Looking for pullback and open position. Positive earnings on Q3 will help to continue uptrend with steam It is little bit risky active due to has Debt/Equite=1.1 However Freeport has other attractive financial stats, looking comptetive in sector...
Freeport-McMoran is attempting to break out of a bullish wedge pattern. There is a lot of options activity in this name with the February 21 $14 and the December 13 $12.50 calls. Note the bullish divergence just prior to its recent bullish move. We want to see the stock hold above the break out level. If the price can hold I am targeting $13.90 as my initial price target.
FCX has broken the daily correction. I'm expecting a downtrend continuation. Look to the price action for a potential pullback.
Two recent upside breaks of powerful support/resistance zone ($13-13.11), both on strong volume, solidifying $13 as a relative floor for now. Strong move through $14 leaves blue skies all the way to $16.
Bullish pattern developing in FCX on the hourly chart. Watch for upside breakout!
Waiting to see what FCX does here. If it breaks the 13.14 support I'll be looking for it to retest and break higher. If it breaks the trend and goes bearish I'll be looking for a bearish setup. I'm not in any trades on FCX just yet.