FCX: Bullish Divergence and Oversold on 1HMFI has a bullish divergence
MACD looks ready to turn upwards.
TTM Squeeze also pointing up.
Confluence with support trend line.
This is an idea.
FPMB trade ideas
FCX Idea Theta Thursday #Ideas 🎲
$FCX 39C > 37.74 | 35P < 36.49
🔵=Entry ⚪=TP1
Keep it Small, Use Stops, and Don't Chase
See Profit Take Profit
Best of Luck! 🍀
NEW POSITION $FCX Target 45.95 for 21.92% $FCX Target 45.95 for 21.92%
Or double position at 29.43
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On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average.
I start every position with 1% of my account and build from there as needed and as possible.
I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.
FCX will most likely go up this month in my opinion bouncing off RSI support and near bottom part of trendline support. ready to test new highs one top trendline around 42-43 breaks!
FCX by requestI made a key code of the price action then found an exact match to this move in the past.... one that matched at lease 95% or better. That way if the move is that close to the same shape we have now it must mean the sentiment of the market was the same at that time. Therefore, the outcome should be the same coming out of the move. I then used PTP which is Past Trend Prediction by tracing the trend it made after this move in the past and projecting it forward on to the current move.
Then I took the same move on the Daily which is a different Time frame then the first..and found the same move with out a key and traced its path and projected it forward as well.
Sometimes I use about 5 other Price Action tricks I have have developed over the last 10 months or chart out the Curve and what Stage it is in. The Curve is my own brain child and I compare that to Wycoff method. Taking all of these into account You have several different approaches to confirming direction and intent of the institutional buyers and where Retail resides during this move.
If you would like to have more information or videos on Any of the ways I chart pls comment below. Like, follow, Subscribe...share.
Thank you,
iCantw84it
06.08.2021
Freeport retest breakout?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?
FCX - Flag / Triangle BreakoutPossible Flag / Triangle Breakout
Possible targets of T1 & T2
T1 being height of triangle
T2 being Height of Pole
P.S : Important for the gap to be filled
FCX : BLUE SKY BREAKOUT / SWING TRADEFreeport-McMoRan is a unique opportunity in a high copper priced world, with the ability to take advantage of growing demand for electric vehicles.
The company achieved significant 3Q 2020 results, and it's focused on aggressively paying down debt to $4.5 billion by YE 2021.
The company has an incredible FCF potential, with a double-digit FCF yield expected in 2021, driving strong shareholder returns.
seekingalpha.com
FCX near top of pitchfork channelFCX may touch the upper channel line of the pitchfork.
It is already outside the Bollinger Band on the 1D.
MACD has not yet curled back down.
RSI is overbought, but may have a little higher to go. (It is showing Bearish Divergence)
Pivot points: 1st Resistance = $45.01, 2nd = $46.05, 3rd = $47.60
Watch for entry around YELLOW RSI level.
Good Luck
The Four Companies Known for CopperThe four companies best known as copper miners don't all have the same strong upward trend year-to-date. Freeport McMoran (FCX) stands out as a stock, but don't overlook SCCO's 4% annual yield.
FCX on commodities/copper againConsidering how this has played out in the past and the current economic environment, we continue to pick our spots to go long copper.
Not the best R ratio but as usual we can make it better once in profit by moving TP up and SL to Breakeven.
Long FCXFCX is in a very nice channel. If FCX is over $41.80 my next PT is $43.60. This is not financial advice, just my thoughts.
Close target 39, rising wedge completedHourly chart completed rising wedge pattern,
There is no major support till 39
looks exhaustedlumber futures getting dumped, copper the next shoe to drop. Volume just getting a shellacking. Time to lock in profits unless you're looking for red candles to accrue moneyness.
The 30s looking really indecisive.
$FCX Freeport with its highest monthly RSI ever!Freeport now printing its highest monthly RSI ever! This monthly RSI can stay elevated, but normally some type of consolidation will occur.
dr. copper gap filled. party's overwe get it, copper is having a moment. FCX tho is trading at a whack multiple. It's primarily rallying because the ^TNX isn't, once the cost to service 10 year debt goes up, this stock goes down. They aren't the only copper game in town, in fact they're #3. #1 is owned by the Chilean government, and #2 is BHP, that currently trades at under 30x, roughly 2/3 of what FCX does.
Bullish commodities, but short dumb trades. This thing will rip your face off, slap a chart of the ^TNX alongside it and buckle up 🤙🏽
Rolled into the weeklies puts on this, will continue rolling out if rates rise and this thing peaks, which I believe it's close to. All that said, nice run, good stock to swing trade if you can time it right
