FPMB trade ideas
FCX- Looks Short To MeOn daily FCX chart, you see where all MOVING AVERAGES converged at (20, 50 & 200). This tells you, when price action breaks, will continue in that direction. Lows on chart is around $9.50, so $10.00 would be a great area for bullish trading and when price action closes above 20 ma. This is a basic materials a lot of volume traded and a market cap of 16.5 Billion. As always, do research and if this fits your STRATEGY , might be something for you to trade.
Freeport-McMoRan Inc. engages in the mining of mineral properties in the United States, Indonesia, Peru, and Chile. It primarily explores for copper concentrate, copper cathode, copper rod, gold, molybdenum, silver, and other metals, as well as oil and gas. The company's portfolio of assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde and El Abra mines in South America. It also operates a portfolio of oil and gas assets comprising oil and natural gas production onshore in South Louisiana; and on the GOM Shelf and oil production offshore California, as well as natural gas production from the Madden area in central Wyoming. As of December 31, 2016, the company's estimated consolidated recoverable proven and probable mineral reserves totaled 86.8 billion pounds of copper, 26.1 million ounces of gold, and 2.95 billion pounds of molybdenum, as well as estimated proved developed oil and natural gas reserves totaled 18 million barrels of oil equivalents. The company was formerly known as Freeport-McMoRan Copper & Gold Inc. and changed its name to Freeport-McMoRan Inc. in July 2014. Freeport-McMoRan Inc. was founded in 1987 and is headquartered in Phoenix, Arizona.
ONE MORE BIG HURDLE FOR FCX LONGTwo 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.
After Big Profit Prediction On $FCX, Here Is The Next Money MakeJust a month ago, I stated that Freeport-McMoRan Inc (NYSE:FCX) would bounce off a gap fill stock chart support at $12.15 and bounce sharply higher. This was a quick trade. Sure enough, within days, Freeport-McMoRan jumped from $12.15 to closed to $14.00. This was a beautiful trade worth 15%. Since then, Freeport-McMoRan has started to fall again, back to the $12.15 level. While it is support, this is just a minor level. Instead, the next big buy level is $11.15. Smart investors and stock traders should be ready to pounce on Freeport-McMoRan here. This will be the next big bounce, likely as much as 20%.
IS THE RECENT FCX HOURLY BREAKOUT SOMETHING BIGGER?Recently highlighted a successfully retested breakout on the fcx hourly chart, but expanding to the larger time frame reveals that this breakout may represent resumption of a larger bullish structure. New targets of $14.80 and $16.50 added.
Light at the End of the Tunnel for FreeportThe Grasberg mine dispute cannot hold Freeport-McMoran bulls forever
FCX BREAKING OUT!FCX exploding through key $13 resistance level on strong volume. Already in this name. Looking for $13.65 and $14.30 in short order.
BULLISH PATTERN FCX HOURLYBullish pattern developing in FCX on the hourly chart. Watch for upside breakout!
Looking for a setup on FCXWaiting 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.
$FCX ShortAnother fairly easy and simple short. Don't complicate your trading, just look at the chart. Best of luck to all.
Long FCX here- Daily charts are quite oversold
- Possible double bottom of the old inverse H&S neckline, seems like a support level
- Copper remains in an uptrend after recent 2 month correction
- Buy 13.56, Stop below 13.00
5% of portfolio, 4% risk, portfolio risk 0.2%
If the global economy doesn't implode this should do well long term. If there is a currency crisis this should also do well. Who knows? Seems like good setup here.
Bullish Bat FormingSuggest to buy at SMA 200 levels..around 12.50
Cut loss @ 11.80 levels, TP 14.50
Reasoning :-
1) SMA 100 has broken
2) formation of bullish bat before rebounces
3) upward trendline
