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Mcmoran

Freeport McMoran Strong Future PositionFreeport-McMoRan's relatively strong position significant producing assets in the U.S. and Indonesia and expansion opportunities puts it in a somewhat stronger position. In short, the outlook for copper prices is good They are forecasting steady annual sales growth. 2023 is expected to be an even stronger year than 2022, and 2024 is expected to be weaker but still stronger than 2021. This provides a runway for significant sales improvement for the company and continuous income for the company in the upcoming years
NYSE:FCXLong
by TraderMentorX
4
Freeport-McMoran Testing Long Term Resistance FCX, Freeport McMoran is testing a long term resistance trend-line. Copper has been unfavorable as of late due to the slowdown in Chinese growth. China is the largest buyer of Copper in the global market. However, recently, the dollar down move has been reflationary for commodities in general, with the CRB commodities index rallying. Moreover, Chinese PMI's have recently bounced, alongside Europe and other EM countries. This is all bullish for Copper. Given that it is the last major commodity to turn in this dollar-down short term macro picture, FCX is ripe to break this long term resistance and head to new highs.
NYSE:FCXLong
by MT-Macro
FCX On Verge Of Dropping 21%FCX is on the verge of dropping 21%. Investors need to take note of these this major factor that dictates price action. Notice on the stock chart below, how over the last two weeks Freeport-McMoRan has been unable to make new highs while the stock market has made multiple new all-time highs. In addition, the stock chart over those same two weeks has a clear bear flag pattern formation. This usually forms when small investors are buying but big institutional traders are gently selling into them, dumping shares. All in all, these are huge bearish signals on the Freeport-McMoRan and investors should be selling or shorting the stock heavily. The first target to the downside is $13.20, a net profit from the current price of 14% for shorts. The second target is $12.10, a net profit for shorts of 21%. This trade will likely play out in the next six weeks, if not sooner. View all of my trades VERIFIED right here: verifiedinvesting.com
NYSE:FCXShort
by AnnabelleTrader