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FIRST QUANTUM MINERALS

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FM trade ideas

A trade can be a small winner or loser, big winner or loser.In a world of 50/50 probability. flipping a coin for instance. it can go either way, a head or a tail is a game of probability. likewise. A trade can be a small winner or loser, big winner or loser. as the small winner and small losers even themselves out. how to eliminate the Big loser than you are only left with big winners The Setup - Current chart(W) is an uptrend - Long-term(M) is unclear - Price comes into the Demand Zone (DZ) which is HL of the (W) uptrend. - Good place to ENTR the LNG The Probability enhancers - Clear STP Loss below the DZ - Room for profit to run with little selling resistance The trade went as planned. I had a nice profit of over 1000 dollars when the price peaked, however my profit target was set too high & I never got to cash in. The price crashed this morning below my trailing trigger STP of 18.40 and I sold making hefty 183 dollars. but i feel good about it. I respected the rules and the market won. Looks like the price is forming a channel. I am setting at 17.50 waiting to go LNG at the bottom of the price channel
TSX:FMLong
by greatful-me
May 10: 17-year long correction ended, generational buyMonthly chart shows AMEX:FM was in a 17-year long WXY correction which bounced strongly at the 0.618 fib (common for a truncated last wave for long-term correction). The Daily shows that it has been nesting to the upside and is very close to breaking above the previous pivot. Once it breaks above, we can confirm that the correction has ended. Looking at other copper stocks like NYSE:FCX and also AMEX:COPX , it is very likely that FM just lagged behind and the whole copper sector has indeed ended its decade-long correction. Minimum upside target is 121.5
TSX:FMLong
by TraderBwater
FM.CA: Ascending Triangle, Not confirmed (45.67%)(8/1000)(8/1000) Ascending Triangle for FM on the Canadian exchange. Not Confirmed yet. Pros: 1- Bullish Ascending triangle 2- Descending volume during formation 3- PPS above 50MA and 200MA 4- R/R ratio above 5 5- 250RSI above 50 and climbing 6- 50MA above 200MA 7- 200MA ascending. 8- Golden cross circled in blue Cons: 1- ATR is descending, less volatile 2- Triangle not confirmed yet 3- RS below 0 but just a tiny bit 4- 50MA flat Target price is 51.45$. Again, stay humble, have fun, make money! MAAX!
TSX:FMLong
by LeLaf
FIRST QUANTUM MINERALS - LONG TERM BULLISHFirst Quantum Minerals shows an interesting long term chart pattern. On lower timeframes, FM completed its corrective wave (2) at 50% of the fib retracement and price has broken the terminus of wave (1). This provides confirmation that an impulsive wave (3) in now occurring and we could expect the next target levels. 1. CAD$ 58/share 2. CAD$ 74.45 Disclaimer: This technical analysis is intended for educational purposes only and must not be taken as investment advice.
TSX:FMLong
by Timgucci
5
FIRST QUANTUM MINERALS CORRECTION In very simple terms, I can see FQM stock price going to my second target levels around 61.8%, we could potentially see the stock price trade around CAD$16.32/share in the next few weeks. On the daily timeframe, price has been trading below the 100 SMA and we could see a continued bearish trend to complete the corrective phase. Please refer to initial correction forecast in link below. DISCLAIMER: This is just an idea and must not be taken as a trading or investment advice in anyway.
TSX:FMShort
by Timgucci
First Quantum Minerals Ready to Break out to all time highs?First Quantum made all time highs back in around March 2011. If it breaks through it's long term trend resistance line, it could be making all time highs again in 2021. Economic backdrop is setup for minerals. If it doesn't break through this resistance line soon, not sure what will make it break through, aside from a massive mineral find. For trading, this isn't the spot to buy in, but, it's definitely a spot to watch. However, f you owned it earlier, I would hold.
TSX:FMLong
by icpinformer
Short First Quantum Minerals (FM) through puts with good R/RI believe, the FM rallied more than it had to. On 30 min time frame I think elliot wave is (upward move part) is completed right now, I expect to see a consolidation so it can continue to its run. I believe valuations are there but here is still global macroeconomic uncertainty, this weakness might be some profit taking or trimming of some of the position before Trump, Xi meeting. If the meeting blows up further weakness will turn into a sell of, I think out of the money put options or if you have the underlying a protective put would be a smart move at these levels. The reason why OMP is, if meeting goes well copper can get an easy boost inturn lifting fm's price. 2 Major resistances 12 put seems attractive to me.
TSX:FMShort
by tc7787