1FCX trade ideas
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.
FCX seems to be breaking out with improving fund for commoditiesGood entry point on FCX with good R/R. Not investment advice. Do your own research.
FCX: Long at close of 25.5, SL close below 24, PT 30, 39, 44Consolidating like crazy after big volume bars earlier from few weeks. Needs lot of patience as it moves slowly. Ideally far out options or really long term hold (6 montsh) will work perfectly.
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!
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.
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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..
