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FREEPORT-MCMORAN INCFREEPORT-MCMORAN INCFREEPORT-MCMORAN INC

FREEPORT-MCMORAN INC

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FCX trade ideas

Gold Mining Coming Up??NYSE:FCX With the option Flow coming in this gave us a bullish bias on the stock. After the trader placed his trade the markets drove the stock down which is max pain. The quicker the market maker drives the stock against the trader, the higher the chance of the trade going in their direction. While going through NYSE:FCX 's option chain we have 2 major put walls, the $40 and $40.5 strike giving more of a reason to move the stock higher. For the technicals the stock created a technical bottom and a liquidation bottom indicating the stock is ready to move higher!
NYSE:FCXLong
by OakFDom
Freeport in Freefall?Freeport-McMoRan has struggled since the spring and some traders may see risk of further declines. The first pattern on today’s chart is the series of higher highs and higher lows since early August. The copper miner fell through the bottom of that channel on Tuesday, creating a potential bear-flag breakdown. Second is the zone around $43.30. It was a high in December and important breakout level in March. FCX recently tried to hold this support area but yesterday tore through it. Third, the breakdown is occurring around the 200-day simple moving average. That may suggest that a longer-term uptrend is ending. Speaking of the long run, the price action between April and July could be viewed as a top. Not only did FCX fail to break above its 2022 peak. It also formed a potential head-and-shoulders reversal pattern. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. See our Overview for more. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors. Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges. TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.
NYSE:FCX
by TradeStation
$FCX: Bullish Reversal Signal with Economic TailwindsFreeport-McMoRan (FCX) Analysis: Bullish Signals Amid Economic Shifts 📊🔍 #YUSUKE_ALERT 🏭 NYSE:FCX : Bullish Momentum Building Alert Details: Option: 08/30/24 $45.5C Yusuke Aug 16, 2024 Freeport-McMoRan (FCX) Analysis: Bullish Signals Amid Economic Shifts 📊🔍 Recent Price Action 📈 Freeport-McMoRan (FCX) has shown significant bullish momentum, closing at $43.58, up 3.98% in the most recent session. This price action suggests a potential reversal from the recent downtrend, aligning with broader economic indicators. Thanks for reading Kevin’s Substack! Subscribe for free to receive new posts and support my work. Subscribed #YUSUKE_ALERT 🏭 NYSE:FCX : Bullish Momentum Building Alert Details: Option: 08/30/24 $45.5C Ask: 152 contracts @ $0.56 ($9K total) Vol/OI: 301/52 (5.79 ratio) Time: 08/15/2024 @ 10:15:30am Technical Analysis: Daily Chart: FCX closed at $43.58, up 3.98% Bounced off support at $40.68 (PT3) Above 21-day moving average Next resistance levels: PT1 $45.44, PT2 $46.37, PT3 $48.03 Weekly Chart: Bullish engulfing candle forming Key resistances: PT1 $46.37, PT2 $51.03, PT3 $51.97 Monthly Chart: Long-term uptrend intact Major resistances: PT1 $51.97, PT2 $53.15, PT3 $55.24 Actionable Signals: 🎯 Entry: Current price ($43.58) or pullback to $42.50 🛑 Stop Loss: Below recent low of $40.68 🚀 Targets: Short-term: $45.44 (PT1 on daily) Medium-term: $46.37 (PT2 on daily, PT1 on weekly) Long-term: $48.03+ (PT3 on daily) 📊 Volume Confirmation: Watch for increased volume to support bullish move 🔍 Key Breakout Level: $45.44 (PT1 on daily) - a break above this level with volume could signal stronger bullish momentum Risk Management: Position sizing: Consider limiting risk to 1-2% of trading capital Scaling: Enter partial positions and add on confirmed breakouts Trailing stop: Adjust stop loss as price moves in your favor Remember, this alert shows bullish options activity, but always conduct your own due diligence and consider broader market conditions before trading. The copper market and global economic factors can significantly impact FCX's performance. Technical Analysis 🔬 Daily Chart FCX has bounced off the support level around $40.68 (PT3) Currently trading above its 21-day moving average, indicating short-term bullish momentum Key resistance levels to watch: PT1: $45.44 PT2: $46.37 PT3: $48.03 Weekly & Monthly Outlook Bullish engulfing candle on the weekly timeframe Long-term upward trend intact on monthly chart Fundamental Catalysts 🌟 Image Copper Demand Surge 🚀: Copper prices are at their highest since mid-2022, driven by: Improving economic conditions in China and the US Long-term energy transition trends (EVs, renewable energy infrastructure) Image Supply Constraints ⛏️: Recent geopolitical issues and mine closures have tightened supply, potentially supporting higher prices New Indonesian Smelter 🏭: FCX's subsidiary PT-FI has commenced commissioning of its new Manyar smelter, positioning the company for integrated production in Indonesia Financial Outlook 💰 Q2 2024 sales expected to be lower than initial guidance due to export license delays Consolidated unit net cash costs for Q2 2024 estimated at $1.77 per pound, up from previous $1.57 estimate 2024 gold sales forecast adjusted to 1.8 million ounces from previous 2.0 million ounces estimate Full-year 2024 copper volume guidance expected to remain largely unchanged Economic Conditions & Rate Cut Impact 🌐 As the Federal Reserve contemplates potential rate cuts, FCX could benefit in several ways: Increased Demand 📈: Lower rates typically stimulate economic activity, potentially boosting demand for copper and other metals Cheaper Financing 💳: Reduced borrowing costs could support FCX's capital expenditure plans and operational expansion Currency Effects 💱: If rate cuts weaken the USD, it could make FCX's products more competitive in international markets Investor Sentiment 🤔: Rate cuts often boost risk appetite, potentially driving more investment into cyclical stocks like FCX 🚨 #YUSUKE_ALERT 🚨 NYSE:FCX : Bullish Reversal Signal with Economic Tailwinds Entry: Current price ($43.58) or on a pullback to $42.50 Stop Loss: Below recent low of $40.68 Targets: $45.44 (short-term) $46.37 (medium-term) $48.03 (longer-term) Actionable Signals: Break above $45.44 confirms bullish momentum Watch for increased volume to confirm trend Monitor copper prices and broader economic indicators Remember, while the outlook appears positive, always conduct your own due diligence and consider your risk tolerance before making any trading decisions. The interplay between FCX's operational developments, copper market dynamics, and broader economic shifts will be crucial to watch in the coming months. 🔍📊 Thanks for reading Kevin’s Substack! Subscribe for free to receive new posts and support my work. Subscribed
NYSE:FCXLong
by Yusuke_Trading
Technical Analysis of Freeport-McMoRanLong Position Entry Point: Consider entering a long position if the stock breaks above the resistance level of $51 with significant volume. Price Target: Initial target at $55.98 (11.80% upside), with a potential extension to $60 if the bullish momentum continues. Stop Loss: Place a stop loss below the recent support level at $47 to mitigate downside risk. Short Position Entry Point: Consider a short position if the stock falls below $48, indicating a break of the consolidation phase on the downside. Price Target: Short-term target at $45, with a possible further decline to $42 if bearish momentum gains strength. Stop Loss: Place a stop loss above the resistance level at $51 to protect against a potential bullish breakout. The MACD level is positive at 0.21, suggesting bullish momentum. Stochastic RSI: At 58.78, it remains neutral but is edging closer to the overbought territory, indicating potential for a slight upward move before any significant correction. Commodity Channel Index (CCI): Neutral at -8.41, showing no significant overbought or oversold conditions. Given the current neutral stance of various technical indicators, the market seems to be in a wait-and-see mode. Investors should keep a close watch on upcoming earnings reports and any significant news in the commodities market, particularly concerning copper and gold prices. A breakthrough in either direction from the current consolidation range could provide a clear trading signal.
NYSE:FCX
by AxiomEx
Freeport-McMoRan Inc. (FCX)The daily chart reveals a bullish engulfing pattern, suggesting a potential reversal of the recent bearish trend. Closing at $48.71 with a 0.62% increase, this pattern is a strong indicator of upward momentum, particularly as it appears near support levels. The Ichimoku Cloud analysis indicates that FCX is currently within the cloud, signaling a phase of consolidation. The narrowing future cloud suggests an impending breakout. The Kijun-Sen (red line) hovers slightly above the Tenkan-Sen (blue line), highlighting weak bearish sentiment. A decisive close above the cloud resistance at $50.23 would confirm a bullish breakout. RSI: Currently at 45.25, the RSI suggests a neutral stance. A rise above 50 would indicate increasing bullish momentum, while a drop below 30 would denote oversold conditions. MACD: The MACD at -0.55 remains in the sell zone, with the MACD line below the signal line. A crossover above the signal line would be a bullish sign. Momentum: At 1.45, the Momentum indicator shows a buy signal, pointing to growing positive momentum. Recent news about Freeport-McMoRan securing significant permits for its Indonesian operations adds a positive catalyst. This development could bolster investor confidence, potentially driving the stock higher in the near term. Long Position Entry Point: $49.00 (confirming a breakout above 20-day EMA and cloud resistance) Target: $52.31 (R1 pivot level) Stop Loss: $47.50 (below 100-day EMA) Short Position Entry Point: $47.50 (if the stock fails to hold above 100-day EMA) Target: $45.73 (S1 pivot level) Stop Loss: $49.50 (above recent resistance) Freeport-McMoRan Inc. (FCX) exhibits signs of a potential bullish breakout, bolstered by technical indicators and recent positive news. Traders should watch for a move above key resistance levels and confirm bullish momentum before taking long positions. Conversely, failure to break these levels could warrant short positions. Adhering to precise entry and exit points, along with appropriate stop-loss measures, will be crucial in navigating FCX’s market movements.
NYSE:FCX
by AxiomEx
1
FCX | Copper Companies Look Good | LONGFreeport-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 and Other. The North America Copper Mines segment operates open-pit copper mines in Morenci, Bagdad, Safford, Sierrita, 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 the Grasberg minerals district that produce copper concentrate containing 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, and rod mills. The Atlantic Copper Smelting and Refining segment smelts and refines copper concentrate and markets refined copper and precious metals in slimes. The Corporate and Other segment offers 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.
NYSE:FCXLong
by DivergenceSeeker
FCX: Great Run, Take Your Profits, get ready to reloadNYSE:FCX has had a great run following the recent commodity cycle and global volatility run-up across the commodity spectrum: oil, E&P, GOLD, and fuels. *The Take* In the dynamic world of international mining, Freeport-McMoRan stands out as a beacon of resilience and growth. Amidst the ebb and flow of commodity cycles and global market volatility, NYSE:FCX has demonstrated remarkable strength, reaching impressive highs that reflect the company's robust strategy and adaptability. The company maintains revenues, works down debt, and maintains profitability. As we navigate through these turbulent times, it's essential to recognize the opportunities that volatility presents. For those who have been part of NYSE:FCX 's journey, now may be a prudent moment to capitalize on the gains. Taking some profits and selling into strength not only secures your hard-earned returns but also positions you to take advantage of potential future entry points. Looking ahead, the commodity cycle is expected to maintain its volatile nature. This unpredictability, while challenging, also opens doors for strategic maneuvers. By reducing exposure at peak levels, investors can prepare to reload on positions when the market corrects itself, particularly in the $26 to $38 range, where value meets opportunity. The global landscape is ever-changing, with factors such as the ongoing Russia/Ukraine conflict, the economic recovery in the Eurozone and Asia-Pacific, and China's anticipated return to the global stage, all playing pivotal roles in shaping market dynamics. As inflationary pressures begin to normalize, albeit at a decelerating rate, it's crucial to stay vigilant and ready to adapt. Freeport-McMoRan's journey is far from over. The company is well-positioned to continue riding the wave of global recovery, leveraging its strategic insights and operational excellence. By staying informed and agile, investors can look forward to not just weathering the storm but thriving in the sunshine that follows. #Commodities #Mining #InvestmentStrategy #MarketVolatility #EconomicRecovery #GlobalMarkets #FCX
NYSE:FCX
by kocurekc
Freeport-McMoRan's Golden Surge: A Deep Dive into Q4 Earnings Freeport-McMoRan (NYSE: NYSE:FCX ) has recently reported a robust performance in its fourth-quarter earnings, surpassing Wall Street estimates and revealing a 10% increase in gold production for the year 2023. This article explores the key highlights from Freeport's financial report, analyzes the factors contributing to its success, and delves into the company's outlook for the future. Strong Financial Performance: Freeport-McMoRan's Q4 net income of $388 million or $0.27 per share exceeded analysts' expectations, showcasing a resilient performance despite challenging market conditions. The company's adjusted net income of $393 million further underlines its financial strength. Revenue Growth and Production Boost: The company reported a revenue of $5.905 billion for the October to December period, marking a notable increase from the previous year. Freeport attributes this growth to a substantial increase in copper production, with 1.095 billion pounds mined in Q4 2023 compared to 1.070 billion pounds in the same quarter of 2022. Gold Production Surge: Freeport's gold production witnessed a remarkable surge, with 573,000 ounces produced in Q4 2023 compared to 472,000 ounces in the same period of 2022. The annual gold production of 1.993 million ounces in 2023 reflects a strategic focus on diversification and capitalizing on the robust gold market. CEO's Optimistic Outlook: Freeport-McMoRan's ( NYSE:FCX ) CEO, Richard Adkerson, expressed optimism about the company's future, emphasizing a focus on operational excellence and investment plans. Adkerson highlighted the team's success in 2023 and outlined strategic initiatives for 2024, with a commitment to enhancing the long-term value of the company's assets. 2024 Projections and Market Impact: The company projects consistent copper production in 2024 and anticipates further growth in gold. Consolidated sales volumes are expected to reach 4.1 billion pounds of copper and 2.0 million ounces of gold. The positive outlook has contributed to a rally in NYSE:FCX stock, with a 5.9% gain and a breach above key moving averages. Cost Management and Capital Expenditure: Freeport-McMoRan remains committed to cost discipline, projecting an average cost of $1.60 per pound of copper in 2024. Additionally, capital expenditures are expected to decrease to $4.6 billion, reflecting prudent financial management and the nearing completion of the Indonesia smelter. Technical Analysis and Investor Sentiment: NYSE:FCX stock's impressive rally, reaching a 5.9% gain, indicates positive investor sentiment. NYSE:FCX is in a potential bullish trend, with the stock surpassing the converged 50- and 200-day moving averages. The emergence of a handle with a buy point at 43.42 further adds to the intrigue for potential investors. Conclusion: Freeport-McMoRan's ( NYSE:FCX ) stellar Q4 performance, driven by increased copper and gold production, sets the stage for a promising 2024. CEO Richard Adkerson's optimistic outlook, coupled with prudent cost management and strategic initiatives, positions the company for sustained growth. As global economic conditions evolve, Freeport-McMoRan's success becomes not only a testament to its operational excellence but also a beacon for investors seeking opportunities in the mining sector.
NYSE:FCXLong
by DEXWireNews