FCX trade ideas
FCX will reach $60 in 2021I am now 70% confident that FCX will reach $60 in 2021.
Technical Reasons:
1. recent relative strength in price action. Compared with most NASDAQ stocks, FCX has already recovered from the lows, as of today.
Fundamental Reasons:
2. Economic recovery, especially manufacture of e-car will need cooper, so high demand
3. With that much dollar floating everywhere, inflation is coming, so the price of raw materials will go up.
Freeport -Bearish devergence (1month)Over the few first day of April, we will see or Doji (Evening star) began to form. Need to wait few confirmation signals.
FCX on commodities/copper risingCopper rising and the dollar falling trend look ripe to continue
FCX is a good copper play on what is a decent support area
a move to the upside is proabable but we would prefer a small position size since :
1) the R of 1.29 isn't the best and
2)MACD doesn't look the best.
keep it on your watch list!after a 711% bullish rally in less than a year, I believe it is going to test its 50EMA, lower border of the channel and previous low at the same time!
if it breaks below all three at the same time! a new ear will start!
this might happen in the next 2 week, I will keep this on the watch list for daily candle closure below 32 for safe entry.
FCX Fibonacci Extensions Swing Trade Idea$FCX Fibonacci Extensions Swing Trade Idea. Entry Price = $35-$37 , SL = $32.50 , TP = $47.50 ($48)
Risk/Reward Ratio = 1:5
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
Buying FCX 19 MAR 21 28 PUTI'm expecting price to hold this current resistance on the 4H.
If price breaks above current resistance, then I will close these contracts for a loss and salvage what I can from the position.
My profit target is around $28.
So, why $28? Because price has already checked the $33 - $30 price level noted by the check mark. I think price could move lower to the next price level around $28 noted by the down arrow.
FCX: Revisiting metals and mining FCX: Revisiting metals and mining after yields were announced. Conviction still strong on the upside regarding EV thesis and plays associated with this sector. Channels provided to measure key levels of support and resistance x upside expectations. I am using the 50MA and 200MA as further evidence of confirmation/rejection on KL's.
Bullish ticker, negative price actionEven so the trend is solid, the most recent price action doesn't suggest a new position now
FCX retesting a mighty ceilingMassive resistance band overhead. FCX has punched through it only a few times in its history, and it doesn't spend much time in or above this region during super cycles. The death zone on Mt. Everest can be expressed this way.
The bull thesis for FCX to summit it's peak again is that it'll be fueled by additional copper input in EVs, burgeoning consumer electronics and a ripping housing market. The bear case is that technology going forward makes mining commodities easier & cheaper.
long stock PT 41,55. Calls Aug 02 50,00
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.
FCXFreeport-McMoRan (NYSE:FCX) Resistance remains at $32.5 and I would be a buyer on a break above that level for a trade.
FCX: Trade Idea FCX: Trade Idea: Divided reinstatement, restructuring of board, upside on commodities and natural resources entering 2021, electrical vehicles driving up demand for Cu.
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.
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Copper Mining Stocks - BTFDMulti-year copper bull-market, says Goldman Sachs Commodities division: www.reuters.com
This is the pullback institutions have been waiting for. Increase exposure in copper stocks such as Freeport, Lundin Mining, First Quantum, etc.
Bull Run Over FCX, XI have closed my positions over the last couple of weeks for 100%+ returns on both these names. I have been in FCX since $5 and X since $9. If you go back far enough in my ideas you can see that I posted about this way back when. If you look at these for the last 10 years they are in a major downtrend. I think they are both putting in reversal patterns and will not see these high levels for yearsssss to come.
These ran up because people think inflation is occurring so, they piled into this. But, I don't see the demand. I am no longer long, it had a good run but, this is a short in my books.
FCX LongMost of the miners took a hammering today. As predicted last week, the DXY (dollar) is finding support and pulling back a little. The long term trend is however down and this weak recovery is inconsequential in the long term, but, responsible for the excess volility we see, and speculation by traders. This is what we witnessed at Mkt Opn. Lots of quick bucks made and lost in the first half hour today on those swings.
