FCX is a buy or sell in the next 2 weeks?I just don't want to explain anything, because those who know technicals and Fibonacci will instantly take the proper action!
FPMB trade ideas
FCX still has room to run!Still is very comfortably in a bullish uptrend. Has room to run into the 30s before seeing some type of pullback. I would set my stop loss at $22. Happy Trading!
Freeport w49 2020. Buy 22 TP 35.Monthly
Uptrend continue
Weekly
Uptrend
Daily
Open Long on correction
Open 22
SL 18,5
TP 35
RR 4
Freeport w43 2020. Buy on positive earnings Q3 up to 20$Flat correction in Downtrend
Weekly
Reversal and Uptrend
Daily
Strong Uptrend
Price in 5th Elliot wave.
Looking for pullback and open position.
Positive earnings on Q3 will help to continue uptrend with steam
It is little bit risky active due to has Debt/Equite=1.1
However Freeport has other attractive financial stats, looking comptetive in sector "Cooper".
Variant conservative
Open 18
TP 20
SL 17
Positive with breakout
Open 18$
SL 14$
TP 35$
could hit 30not much has changed since the last request, has potential to do 30 before pullback, but sell on a break of the smaller trendline. goodluck :)
a couple outcomeslong over 20 short under 15-16 here imo. nice channel but these break eventually! goodluck. leave a like you found this helpful! thanks <3
Freeport w43 2020. Buy on positive earnings Q3 up to 20$Montly
Flat correction in Downtrend
Weekly
Reversal and Uptrend
Daily
Strong Uptrend
Price in 5th Elliot wave.
Looking for pullback and open position.
Positive earnings on Q3 will help to continue uptrend with steam
It is little bit risky active due to has Debt/Equite=1.1
However Freeport has other attractive financial stats, looking comptetive in sector "Cooper".
Open 18
TP 20
SL 17
FCX Back over trend line established since March lowNYSE:FCX Broke the trend line and bounced of SMA 50 nicely and now back over trend line.
Looking at $18.30 as the first PT and then $19.70.
SL at trend line.
None of the content published constitutes a recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. Information provided in this correspondence is intended solely for informational purposes and is in no way guaranteed.For financial advise seek appropriate investment advice from a licensed Industry representative.
copper cup for fcx.. setting up before earnings week.lets see how this goes. these patterns are so funny. seems they work out about 2% of the time... maybe this is it?
Can find a bunch of these cups as you look through your favorite names. Bet they all break the same way, at same time. Will be interesting to see what puts the next move in motion.
Good luck out there!
Our Stock of the day / FCX LongToday we have a long set up to share:
a) The price is inside an ascending channel (purple line) and has been bouncing inside that range since APRIL.
b) Currently, we can see a corrective structure that has been formed after a bounce on the ascending channel.
c) If we zoom in on the chart, we can see a clear range (support and resistance) in which the price is on it.
d) The corrective structure we can see is completed, and we expect a bullish movement if the price reaches our Entry level.
e) Our Break Even level will be the yellow line. Stop and Take Profit are the ones explained in the chart.
f) We will take this trade using a 1% risk of our capital.
g) We will cancel the trade if the price stays below the corrective structure OR if the risk-reward ratio is less than 1.5
h) Remember: Trade safe, protect your capital, and always understand what you are doing and the risk involved.
FCX reversal upY1>Y2 = weak downtrend
got power up
CDE = T1<T2
fib @ 1.618
W&R success = reversal up
It is a weak downtrend with no power down. Fibonacci hit up, not hit down.
W&R succeeded. Trend is about the reverse up. With Pattern C at the bottom.
TP @ 31.84
SL @ 8.50
Long FCX ( $GLD $FCX #GOLD $GC1! $GC_F $Spy $GOLD $XME)see full chart at www.tradingview.com
FCX
Entry $15
Target 1 $17
Target 2 $20
stoploss $13
Why?
Why it is a buy?
Stimulus bill #2 will eventually come out by 2021, Along with FOMC mentioning that they will allow inflation to run wild. what that means is that, the fundamental value of GOLD and other minerals will increase in price. While everyone is focus on gold, and silver, they are missing out on Copper. so I think it is defiantly an laggard and we could catch a nice buying opportunity still.
Who are they?
Freeport-McMoRan, Inc. engages in the mining of copper, gold, and molybdenum. It operates through the following segments: North America Copper Mines; South America Mining; Indonesia Mining; Molybdenum Mines; Rod and Refining; Atlantic Copper Smelting and Refining; and Corporate, Other, and Eliminations. The North America Copper Mines segment operates open-pit copper mines in Morenci, Bagdad, Safford, Sierrita and Miami in Arizona; and Chino and Tyrone in New Mexico. The South America Mining segment includes Cerro Verde in Peru and El Abra in Chile. The Indonesia Mining segment handles the operations of Grasberg minerals district that produces copper concentrate that contains significant quantities of gold and silver. The Molybdenum Mines segment includes the Henderson underground mine and Climax open-pit mine, both in Colorado. The Rod and Refining segment consists of copper conversion facilities located in North America, and includes a refinery, rod mills, and a specialty copper products facility. The Atlantic Copper Smelting and Refining segment smelts and refines copper concentrate and markets refined copper and precious metals in slimes. The Corporate, Other, and Eliminations segment consists of other mining and eliminations, oil and gas operations, and other corporate and elimination items. The company was founded by James R. Moffett on November 10, 1987 and is headquartered in Phoenix, AZ.
FCX in correlation with XLB DividendHistorically NYSE:FCX has been bearish the week of or week leading into AMEX:XLB dividend. Shown here is its support and resistance, movement this summer, along with selloff in correlation to XLB dividend dating back to Dec 20, 2019. Materials and metals have popped this year with AMEX:GLD taking charge earlier this summer. FCX has beat earnings expectations all year and that if that trend could continue FCX could see more upside. After a strong finish to the week, I like FCX for to make a quick turnaround going into October along with SLV and other materials, as I believe can still serve as a strong hedge as we near elections.
fcx vs aapl vs amzn same path. lower hi's, hi'r lo's .. wedgeconcerning breakdown on fcx this week. Maybe bit of comfort seeing aapl, and amzn have a similar patterns? Thought was worth a note..
UPDATE FCXSo we got the reject at the resistance that I indicated in my previous analysis.
Now we have to be patient and wait for a clear setup for entry.
Short term behaviour can be a quick retest of the small resistance just up ahead and then continuation of the downward trend (orange).
Or back up to start some sort of top formation (like a head and shoulders, double top, rising wedge, etc).
What we need to look for is 2 things:
- Arrival at a significant level of support.
- Signs of reversal at this support like; bullish divergence, engulfing candles, large wicks, big volume on bounce, falling wedge, inverted head and shoulder, etc.
The 3 supports to look out for:
1. The area around 14.00 marked with the first green circle. From a horizontal support perspective this is a very strong area (see W chart, not shown here). Also is the 0.618 fib of the latest impulse (blue fib lines). So very much an area to look at!
2. Area around 11.00-11.50. There is a confluence of things going on there: The 0.5 fib, strong horizontal support and a possible retest of the previously broken downward trendline (blue).
3. Area around 9.00-9.5. Seems unlikely, but I've marked it nontheless as it represents the 0.618 fib and another horizontal support.
So let's keep a close eye on the price action once arriving at these support levels. Getting close to no. 1 already, which could very well be the turning point already.
FCX - Technicals + Fundamentals lining upHigh probabilty trade here. On the technical side the FCX chart is showing a bullish ascending triangle, whilst on the fundamental side FCX's primary product both copper and gold continue to be very bullish . Should be some tailwinds with recent market volatility and possible rotation over the next little bit as well.
Rallying despite the Nasdaq, S&P 500, Dow Jones correction #1Soo, I have searched for some Tickers that gives steady gains, despite the downturn of the major indexes.
The first one is, Freeport Inc.
As you can see it broke the "R1 Pivot Point" resistance with relatively high volume. If it manages to stay above it, then I will buy some calls.
If it goes lower than R1, then I would wait a bit and then go long on it. Entry zone for such a case: 15.67
Check out my profile for other tickers like this one.
FCX - A Multitude of Technical PatternsFCX appears to be reverting to historical inflation trends. Double Bottom, V - Shaped, and Inflation Adjusted Trends all appear to be present.
Copper is showing strength as well. Watch Supply/Demand. See notes on chart.
FCX getting near resistance, time to sell?So FCX has been on an incredible run, so the question becomes when is a good time to sell and wait for a possible retrace.
We are currently getting close to a confluence of resistances, so I wanted to highlight this as a possible good selling point.
First of all there is the long term downward trendline that is currently around 17.5-18 (depending on how you draw it).
Then there is a long term high resistance area coming up just above as well.
My money is on FCX being stopped in it's tracks at this level. It would at least give you a high probability cheaper entry after selling.
And finally, looking for a buying entry after retrace I see 2 scenarios:
GREEN: We simply consolidate for a while before breaking the trendline and continuing up.
ORANGE: We do a retrace to the 0.5 (or 0.618) fib and we retest the previously broken trendline.
FCXFCX broke previous high. Consolidation. Long term hold. This goes along with my other copper plays.
