FCXCL trade ideas
Bottom is very close but still it can get uglierIf you have the balls to play a long-term investment strategy it could be very close now then ever. Each bottom base has a unique characteristics and sometimes is very confusing and hard to define the zone of tolerance, for this security, it looks the bottom is not far if not printed already. Like at and around $7.8 area with stop loss at and around $5
FCX on a very decisive levelFCX closed right on support of the lower trend line as shown. Price moving above from here would mean FCX has started a leg up after being beaten down. If comes down it would mean it sees prices 8.88 or 7.50.
Can go long at this point for a good R/R. MACD is falling which is not bullish and MA's are again falling which is again not bullish. Right at lower bollinger band which have provided support previously on many occasions. Monday's close would be telling.
Put premium selling opportunity in FCXI am by no means an expert programmer or technician, but what I have been noticing with FCX is a relatively consistent pattern where option premium sellers have a great opportunity for enhanced success.
Rules:
- On a 4 hour chart with Keltner channels, Bollinger Bands in the upper indicator and CM_WVF_v3_Ult in the lower indicator
1) When CM_WVF is in GREEN, and
2) Price is outside the KC
3) When price reenters the KC initiate the following transaction:
Sell Put or Put spread with the closest strike at the lower Bollinger Band. Days to expiry = 30 days
Within the past 6+ months, that signal has occurred 5 times with all expiring OTM, and once was there a touch.
The setup in FCX is near again - Green CM_WVF and price is outside the KC.
Stay tuned...
FCX gaps down below $20FCX has just gapped down below $20 producing a potential bear flag on the weekly chart. This is a good near-term trading opportunity but this is very short-term only - as earnings are due out on 22nd January. However, if the downtrend stays in play, earnings could add to the bearish momentum.
It took over 18 months for price to break below the June 2013 pivot low but, since then, the bear trend has developed well. Price didn't really retest the $26 level. But the recent December/January pullback acted as an appropriate countermove - without being so prolonged that we could not take yesterdays gap as a shorting signal.
Volume was also high on the gap down. It would've been preferable if the bar had been a bit more bearish but, with the gap and $20 offering resistance, a near-term short looks good.
FCX Retest Gap Day Trade (Brad Reed Jan14,2015)FCX expected to open at 19.38 for a Retest Gap. To learn to trade this strategy for free, go to www.RealLifeTrading.com
Freeport Technical Analysis: Flashing Short!Technical Analysis: The long term chart for the stock is pretty negative, the price has broken below a major monthly support, completing multiple bearish patterns, a head and shoulders top followed by the minor double top formation,
The medium term outlook(months) for the share is dimmed, Shorting on any pullback towards the broken support area is favored, where am looking for an initial target at the main rising trend line shown on chart. Note that this is a logarithmic scale
Happy Trading :)
Join me at twitter.com
Facebook page www.thefxchannel.com
Google Plus : plus.google.com
My best regards,
Technician
FCX reversal breakoutBreak of $28.50 on larrge volume suggest significant buying pressure at this level. 29/28 OTM Put credit spread or covered call potential
FCX downtrendingFCX is currently in a downtrend. Expecting prices to correct to $34 (completion of AB=CD pattern) minimum or further down to $33 which is the longer term bottom trend support and completion of the harmonic pattern. Fundamentally undervalued compared to rivals. Get ready to switch over to a long position.
FCX - Time to start building ~$33As a fundamental story, this stock is worth $50, but a big CAPEX program and recent M&A has hurt the profitability. No funny share buy-backs being used to buoyancy the stock (good). Combine that with China weakness and you've got a beat-up stock (great).
We are pushing down to a key $33 level, established now for about a year. With some long term technical support trends lines to give you some down side barriers. Long term bullish, so start to build a positions around the $33 or $-cost-avg into this guy here.
Thanks for stoking my interest Joe, www.tradingview.com
FCX at Support w/ Momentum DivergenceVolume Spike on Friday at support brought a pin bar like candle on extremely noticeable momentum divergence. I would look to get long at the closing price of Friday; however, the more conservative trade would be to wait for a break of Friday's high or even a close above that price. I would look for a retest of the first major resistance level around $37 - profit target put just in front of that level. There should be some resistance seen at $36 as well which would be a good level to raise stops to break even.
$FCX on the way to $40 a shareHit the 161.8 of AB on this completed ABCD, 113 acting as res. from previous high. Both determined the 3rd wave, PA turned down for a ret. @50fib., broke out of the narrow descending channel towards completing wave 5.
FCX setting up for longFCX bouncing off some great levels and getting support t the right spots.
I am no elliotician by any means by could we see a wave 5 here?
$HG_F is also catching bids today off that important 3.08
FCX - another bullish signalTwo weeks ago there was a nice bullish signal on FCX, and now the signal is even stronger. It looks like the uptrend that started with a double bottom is still in place, and this sideways movement going on for a couple of months has been a correction. I expect FCX to to back to the old 2013 highs at 38$, that means risking about 60 cents for 4 dollars, a good deal anyday.
I'm sort of bearish on gold, but I'm bullish on copper, and FCX is greatly correlated with copper.
Freeport-Mcmoran FCX Daily - Trend Trading System - BuyClick on the links below to see the trend setup, entry rules and exit rules.
The rules are very clear.
All the best,
Tim 5/30/2014 12:10AM EST FCX 34.27 +0.44 yesterday
FCX - Long with the trendFCX has been in an uptrend. Everytime price retraces to the dynamic support, it's time to buy. First target at 36 and second at 38. Stop under the hammer.
FCX - Long on Double bottomOut of all the double bottoms I posted recently, this is the trade that seems most unlikely (I explained why on the chart). I decided to post this even if I'm not that confident because the divergence is obivious and we had a gap up at the open.
My stop is under the last low at 30.40$ and my first target is at 34$ round level, at previous resistance and 50% fib. Final target, which i think is unlikely is at 38$.
