FCX INVERSE HEAD N SHOULDERNYSE:FCX
INVERSE HEAD AND SHOULDER
UPTREND +FAST TURTLE BUY
FiFT SPIKE UP
MCDX+ BANKER SPIKE UP
BANKER 70%
ATOM BUY
FCXCL trade ideas
Dr. Copper + Goldfingerlong commodities tho they're talking a breather. looking at FCX for another decent trade.
The setup: thinking this downward trend in FCX continues for a few more days then touches off the bottom of this inside pitchfork, so I'm eyeing a few at the money April 16 33.50 puts, watch to see how it behaves on the 32.91 support level, if it fails there, fork model is garbage, and I'll roll these puts out another week to collect more downside. If it bounces off the bottom of the fork channel & trends back up (which I think it'll do being that FCX routinely beat earnings as of late), I'll buy some cheap out of money monthly calls -preferably before end of session Friday. Likely selling these calls early following week when they strike in the money because the S&P runs the risk of bringing down a lot of sectors if it rolls over in the coming days/weeks. The one caveat that could prop up FCX is that if gold finally stages a rally, then the two commodities could fly in the face of an S&P re-rating. We'll see.
🐂 Freeport FCX inflation trade - Bullish flagHi mates NYSE:FCX is perfect setup for long in bullish flag
here is data for my trade:
------------------------Trade setup ---------------------------
Entry: 33.80
Stop Loss: 32.45
Profit target: 43.60
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FCX has upside potential here ! we have been in a little downtrend channel here after FCX met its March highs, doesnt mean we cant make some money going long though. look for a slow grind to 35-36 here before we meet top trendline resistance. if that breaks we can test 52w highs. ;)
FCX $34 Scalp playCaching this small move here. Next high volume area is above $35+
Tight Stop Loss at $32.15
Take profit at $34.00 and leave a runner in case it breaks and continues
FCX will reach $60 in 2021I am now 70% confident that FCX will reach $60 in 2021.
Technical Reasons:
1. recent relative strength in price action. Compared with most NASDAQ stocks, FCX has already recovered from the lows, as of today.
Fundamental Reasons:
2. Economic recovery, especially manufacture of e-car will need cooper, so high demand
3. With that much dollar floating everywhere, inflation is coming, so the price of raw materials will go up.
Freeport -Bearish devergence (1month)Over the few first day of April, we will see or Doji (Evening star) began to form. Need to wait few confirmation signals.
FCX on commodities/copper risingCopper rising and the dollar falling trend look ripe to continue
FCX is a good copper play on what is a decent support area
a move to the upside is proabable but we would prefer a small position size since :
1) the R of 1.29 isn't the best and
2)MACD doesn't look the best.
keep it on your watch list!after a 711% bullish rally in less than a year, I believe it is going to test its 50EMA, lower border of the channel and previous low at the same time!
if it breaks below all three at the same time! a new ear will start!
this might happen in the next 2 week, I will keep this on the watch list for daily candle closure below 32 for safe entry.
FCX Fibonacci Extensions Swing Trade Idea$FCX Fibonacci Extensions Swing Trade Idea. Entry Price = $35-$37 , SL = $32.50 , TP = $47.50 ($48)
Risk/Reward Ratio = 1:5
Perfect Diamond Long on $FCX into AprilGet on board this most excellent trade with copper and stock seasonality on your side! FCX has has a great run this year with copper from the bottom rising 400%. This is a great and possibly final leg to get into for awhile that is perfectly balanced inside Camarilla pivots, which I would consider myself an expert in using.
Copper 16YR seasonality nearing a bottom ahead of the FOMC
FCX is in agreement with a bottom near this area
Buying FCX 19 MAR 21 28 PUTI'm expecting price to hold this current resistance on the 4H.
If price breaks above current resistance, then I will close these contracts for a loss and salvage what I can from the position.
My profit target is around $28.
So, why $28? Because price has already checked the $33 - $30 price level noted by the check mark. I think price could move lower to the next price level around $28 noted by the down arrow.
FCX: Revisiting metals and mining FCX: Revisiting metals and mining after yields were announced. Conviction still strong on the upside regarding EV thesis and plays associated with this sector. Channels provided to measure key levels of support and resistance x upside expectations. I am using the 50MA and 200MA as further evidence of confirmation/rejection on KL's.
Bullish ticker, negative price actionEven so the trend is solid, the most recent price action doesn't suggest a new position now
FCX retesting a mighty ceilingMassive resistance band overhead. FCX has punched through it only a few times in its history, and it doesn't spend much time in or above this region during super cycles. The death zone on Mt. Everest can be expressed this way.
The bull thesis for FCX to summit it's peak again is that it'll be fueled by additional copper input in EVs, burgeoning consumer electronics and a ripping housing market. The bear case is that technology going forward makes mining commodities easier & cheaper.
long stock PT 41,55. Calls Aug 02 50,00
Copper futures at 9 year highs, FCX SCCO HBMCopper futures at 9 year highs and all time high is around $4.65, FCX is the world's largest publicly traded copper producer. It is following the price of commodity. Demand for copper from renewable sector is growing as new power generation capacity addition renewable energy (China/India).
Options - The March 19 $38 calls traded over 11000 times, over 34,000 in Open interest. The march put call ratio is .46.
April options put call ratio - .76, probably a pull back at some point after strong move friday.
FCXFreeport-McMoRan (NYSE:FCX) Resistance remains at $32.5 and I would be a buyer on a break above that level for a trade.
