FCX likely going much higherFCX is going to be a major beneficiary with copper breaking out (see below). This is arguably a near 15 year base it's breaking out from. Very meaningful price action here...
FPMB trade ideas
FCX: Cup and Handle BreakoutFCX: Original setup for "cup and handle" pattern shared on February 11, 2022 (see previous ideas) is now engaged with price action crossing threshold of 46.25. FCX has been basing on intraday and daily time frames with bull flags consistent in price action. Expect strong buying action as copper has become a sector where liquidity has seen benefits due to commodity price inflation. Sentiment: Bullish continuation// ATR: 1.85, Beta 1.99
FCX New 52 Week High*FCX made a new 52 Week High on Friday
*More than 50% average 50 day volume
*200 DMA holding dips
*Pays out dividends
FCX: Cup & Handlethe main figure was the June-December head and shoulders
confirmed by a failed head and shoulders from October to December, long entry on December 22nd
it would have taken a partial profit, until the high of May '21
at this moment it is forming a compound figure, the Cup and Handle
I would like a net close over 46.50
25/2/2022 NYSE (FCX)Buy (Entry Price) within the buy zone area and exit (Stop Loss) below the red line. Can take profit at the suggested Target Price.
2/27/22 FCXFreeport-McMoRan, Inc. ( NYSE:FCX )
Sector: Non-Energy Minerals (Other Metals/Minerals)
Market Capitalization: 67.415B
Current Price: $46.34
Breakout price: $46.00 (hold above)
Buy Zone (Top/Bottom Range): $44.45-$41.10
Price Target: $45.90-$46.20 (reached), $56.00-$57.60 (2nd)
Estimated Duration to Target: 100-107d (2nd)
Contract of Interest: $FCX 6/17/22 60c
Trade price as of publish date: $1.16/contract
$FCX - Love this monthly chart!!!$FCX is gaining strength. This monthly chart is awesome. I would expect some choppiness at the trendline resistance of the bull flag and extremely long term trendline. I was buying for clients in the 30s but now will move to a 7-10% holding and will hold until it $65 minimum.
FCX: Cup and Handle FCX: Cup and Handle setup after solid basing on weekly frame. Price action finding acceptance above key moving averages (20, 50) which are also acting as support. Volume shelf setting up for a price discovery to the upside. Breakout over 46.20 with volume is on lookout using MACD as an accessory for price action/momentum. Setup invalidated with rejection at 46.20 wkly high & with price action < KMAs. Commodities particularly have become a favorable risk on sector with increasing rates and supply/demand imbalances. Fundamentally, FCX has impressive EPS growth, ROE, liquidity, and favorable cash flow// Street Target Price is 50.14, ATR: 1.94, Beta 2.07
FCX This Name Is Up 900% From Our Long Call See BelowFCX This great company is now up an amazing 900% from our LONG CALL At $5 We Are Now Selling - Can it get to $50 ? Sure but as J. Paul Getty so famously said "I got rich selling too early" Do your own DD Not Advice
FCX - Potential Cup & Handle BreakoutKeeping an eye on FCX for the completion of a cup and handle formation breakout. This is a great long-term investment as well, that pays a dividend.
FCX - Box BreakoutBuy above 41.7
Target of $2.5 being top of previous box
Stoploss close below 10Ema
$Stocks $FCX ShortFCX has been Trading in a Consolidation range since October.
Expect a false breakout to the upside before falling to the Bottom of the range.
Entry $38-$40.00
S/L $42.00
TP1 $36.00
TP2 $35.40
TP3 $33.80
TP4 Open (Inflation)
Failed Breakout for NowLike most momentum stocks, FCX is having trouble taking out the ceiling. Its at a pivot of a cup and handle formation now. Volume has been light during the Santa rally but has big potential reward vs a small risk if breakouts begin to work in this market. I would love to see continued relative strength in the setup and big volume confirmation if it can move up through the pivot in the $40 range.
12/26/21 FCXFreeport-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: $1.93/contract
FCX Aluminum and copper stocks performed well last . FCX was able to finally break that 39$ range. Now we're approaching even tougher resistance here which you can see at 3 different areas.
1. White line - you can see the rejections off of here
2. RSI - You can see similar rejection here
3. fibonacci .236 or 42.62..
All 3 of these resistance will be met at the same time so we'll know if a breakout will happen or not.
Finished last week with its Daily candlestick fully outside its bollingerband. I think we retest 40.50 before any leg higher
Long on FCX -- Eyeballing 15% gains Inflation is at its highest level in 40 years yet gold and copper being pretty stagnant investments this year (gold more so than copper). I'm going long on these guys at this price. Financials look good and from what I'm reading 2022 has a bright outlook for shareholders. These guys are going to have loads of cash for stock buybacks and/or dividend increases in 2022 after focusing on paying off a large portion of their debt these past few years. No stock is safe if the market truly corrects and goes bearish, but this stock seems safer than most to me given what they do and their track record of increased earnings these past 2 years.
$FCX - golden crossPotential for a golden cross is here.
I have calls - with a tight stoploss. I dont like that we are hovering at the 50 MA. Some risk involved here.
$FCXThat top bothering me looks like irregular top and we have not completed 4th wave yet ...we will see ..more upside but from lower
