Short FCXLast week I have some puts on FCX. now I look back to this stock and see the huge short potential on this underlying. Based on my estimations as soon as it can not break above the channel, it is likely to test 200 MA below
FCX trade ideas
FCX - Shooting Star There is a shooting star on daily and then we can also see a volume reversal which might give the bears a chance to get in.
*Not financial advice
*Do your own diligence
Quick trade idea on $FCX based on bull flagFCX is bull flagging with a lot of tailwinds that I won't delve into here. Solid long term play worth a couple rolls.
#FCX trade range up to 15-Sep-23The activity of the options market confirms the trading range within the borders shown on the graph. Not surprized.
Based on our team's research of the options market, we expect buy activity at the support level or sell activity at the resistance.
We primarily consider levels to be activity zones, but not to be a super-fine level for establishing a limit order. Use them in combination with our own strategy, not in alone.
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$FCX - Inside symmetrical triangle NYSE:FCX Inside symmetrical triangle and bounced off of the $33 support area. Targets - $41, $44, $50 Downside risk - $31.65.
I am long. 💥🚀💰
TRIANGLE BREAKOUT SHORT FCX
Triangle breakout downwards
took a trade to short.
Breakout with strong candle
good volume
towards the end of triangle
KIV results.
Inverse H&STodays earning were good and chart made clear inverse H&S
Looking at 46 as potential target
FCX at a forkI like trades like this.. the setup makes it hard for a crappy entry or direction.
Purple wave - 50sma
Gold wave -200sma
Long over 41.50
Target 44.00
Short below
39.50
Target
200sma
Hate to be a bear but it's looking like a H&S play
Weekly Levels : $FCXNext Support and Resistance Area for $FCX
Identified on the chart the next possible Support and Resistance, where the price will exit this trading range.
FCX. Weekly UpdateBox overview on the weekly chart of $FCX.
$45 as target on the long side
$32 as target on the short side if the current box will be broken.
TBox Updates on $FCXThe price went from the starting box to the bearish box and then back again.
Fantastic move.
Box still valid.
TBox on $FCXPlaying the test/cross of the ema 21h on the 250h
The Ema 50h is there to help in both directions.
2/1/23 - FCX Daily (Freeport)FCX is a good company if your a copper and chips follower. I want to post this to see if the H&S plays out over time..... If so Im a buyer.
Possible 12 Bagger on FCX Puts$35 strike May 19 expiration puts are going for $1.03 right now and I’m thinking of grabbing 10 at $1.00 a piece for a total cost of $1000.
Reasons to go short:
FCX at upper bound of downtrend channel
FCX at horizontal resistance from May 2021
FCX Time cycle suggests top forming within 2 weeks (this trade might be early)
Weekly copper chart at 2008 crash level, POC, and various other bearish arguments, see charts below
Risks:
Downtrend channel could be massive bull flag that we’re about to break out of
Price dropping 32% in 4 months is a big ask, let alone 50%.
Copper chart 1:
Copper chart 2:
Main chart before rearranged by publishing process:
Jan 2023 Elliot Wave Forecast for FCX This chart outlines a perfect Elliot Wave Impulse pattern for the month of January 2023.
FCX will take a hair cut 2023Whenever yoy here these so called advisor , Start to publicly recommend a sector to invest in , that means it's time to short. They (Institutions ) usually take a position 30% cheaper before they even mention it and by the time they do speak on it they are unloading why you (Retailers) buy the ASK.
That yellow trendline u see is a downtrend starting from 2008
In the next few weeks expect FCX to trade in the Range of 37-45 to round that right shoulder off. Earnings is JAN 23 wink
FCX Bull Flag WatchEyes on this miner for a breakout of a bull flag. 10MA is turned up to form a a bullish cross above 20, PA is above the 200 MA with the 50 crossing it as well.
QuickTrade idea n. 232 : FCXI am Bullish above $39.9 with target at $40.71
I am Bearish below $37.76 with target at $36.9
$FCX (Sector: $XLB) Long Setup $FCX (Sector: $XLB) 2D-2U QTR 🟢 FTFC 🟢 Short term long targets around 40$
Recap : QuickTrade 188 on FCXThe price just triggered the long entry level and moved to the target.
MAximum drawdown, 2%
EMA 21h as support
QuickTrade 188 : FCXIn case of break...
Long, looking for a positive test of the 21h on the 50h with a move to previous highs
Short, looking for a bearish cross with a move to the gap left open.
