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..
FCXCL trade ideas
UPDATE FCXSo we got the reject at the resistance that I indicated in my previous analysis.
Now we have to be patient and wait for a clear setup for entry.
Short term behaviour can be a quick retest of the small resistance just up ahead and then continuation of the downward trend (orange).
Or back up to start some sort of top formation (like a head and shoulders, double top, rising wedge, etc).
What we need to look for is 2 things:
- Arrival at a significant level of support.
- Signs of reversal at this support like; bullish divergence, engulfing candles, large wicks, big volume on bounce, falling wedge, inverted head and shoulder, etc.
The 3 supports to look out for:
1. The area around 14.00 marked with the first green circle. From a horizontal support perspective this is a very strong area (see W chart, not shown here). Also is the 0.618 fib of the latest impulse (blue fib lines). So very much an area to look at!
2. Area around 11.00-11.50. There is a confluence of things going on there: The 0.5 fib, strong horizontal support and a possible retest of the previously broken downward trendline (blue).
3. Area around 9.00-9.5. Seems unlikely, but I've marked it nontheless as it represents the 0.618 fib and another horizontal support.
So let's keep a close eye on the price action once arriving at these support levels. Getting close to no. 1 already, which could very well be the turning point already.
FCX - Technicals + Fundamentals lining upHigh probabilty trade here. On the technical side the FCX chart is showing a bullish ascending triangle, whilst on the fundamental side FCX's primary product both copper and gold continue to be very bullish . Should be some tailwinds with recent market volatility and possible rotation over the next little bit as well.
Rallying despite the Nasdaq, S&P 500, Dow Jones correction #1Soo, I have searched for some Tickers that gives steady gains, despite the downturn of the major indexes.
The first one is, Freeport Inc.
As you can see it broke the "R1 Pivot Point" resistance with relatively high volume. If it manages to stay above it, then I will buy some calls.
If it goes lower than R1, then I would wait a bit and then go long on it. Entry zone for such a case: 15.67
Check out my profile for other tickers like this one.
FCX - A Multitude of Technical PatternsFCX appears to be reverting to historical inflation trends. Double Bottom, V - Shaped, and Inflation Adjusted Trends all appear to be present.
Copper is showing strength as well. Watch Supply/Demand. See notes on chart.
FCX getting near resistance, time to sell?So FCX has been on an incredible run, so the question becomes when is a good time to sell and wait for a possible retrace.
We are currently getting close to a confluence of resistances, so I wanted to highlight this as a possible good selling point.
First of all there is the long term downward trendline that is currently around 17.5-18 (depending on how you draw it).
Then there is a long term high resistance area coming up just above as well.
My money is on FCX being stopped in it's tracks at this level. It would at least give you a high probability cheaper entry after selling.
And finally, looking for a buying entry after retrace I see 2 scenarios:
GREEN: We simply consolidate for a while before breaking the trendline and continuing up.
ORANGE: We do a retrace to the 0.5 (or 0.618) fib and we retest the previously broken trendline.
FCX setting up nicely in cyclical turnaroundLong term 2W chart approaching key level. Breakout above $16 could indicate further upside potential. 20 and 50 week MAs provide some support w/ 50 wk turning up
Posible retroceso rupturaLos indicadores indican posible ruptura alcista siguiendo el canal ascendente semanal.
Pero hay posible retroceso a soporte anterior si no rompe la media de 200 y sigue con el patrón bajista de los últimos triángulos bajista.s
$FCX ends 6 year bear market - short term bull target is $16Whether or not the tech bubble pops, precious metals will continue to rise. $FCX is a safe low risk long term hold. Watch for Copper futures to quickly trade above $3.
All that glitters, is not goldAfter being decimated over the last 10 years, it seems that FCX, is rising from the ashes. Given its exposure to several metals, and the recent push higher in both precious and base metals this could be a very handsome investment. Technically looking good. Tomorrow is earnings.
C&H Earnings BMOCup and Handle
Mid Cup 9.25
stop below handle low at 12.5
Targets 16.5 19 20.5
Not a recommendation
FCXcopper mines galore, electric cars, turbines.... gotta be careful if they outlaw gold, what be the next haven? Blue sky volume ahead
fcxpotential buy stock
Freeport-McMoRan Inc. engages in the mining of mineral properties in North America, South America, and Indonesia. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile. The company also operates a portfolio of oil and gas properties primarily located in offshore California and the Gulf of Mexico. As of December 31, 2019, it estimated consolidated recoverable proven and probable mineral reserves totaled 116 billion pounds of copper, 29.6 million ounces of gold, and 3.58 billion pounds of molybdenum, as well as operated approximately 210 wells. The company was formerly known as Freeport-McMoRan Copper & Gold Inc. and changed its name to Freeport-McMoRan Inc. in July 2014. Freeport-McMoRan Inc. was founded in 1987 and is headquartered in Phoenix, Arizona.
SHORT FCXExpecting short-term correction from extremely overbought weekly and daily levels. If stop breached, be prepared to catch new daily reversal on higher levels with a tight stop.
$FCX Freeport Bullish as Copper Surges
Possible trade setup on break above trendline resistance.
Upside Target $14.50 to Fibonacci and Pivot point .
Copper prices continue to surge and we may see
some rotation into the sector.
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Ready For More?Were you in on the last 2 posts?....it's not through yet. Looks like an ascending triangle with an incoming golden cross.
The Direction of FREEPORT- MCMORANHello traders, FREEPORT- MCMORAN is in a bullish push, breakage of the compression zone to come up, possibility of breakout of the stabilization zone.
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Nice Swing/Position EntryLooks like a good place to enter withe the crossing of the 200ems, the rest of the ema's moving upward, and the macd crossing.
