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4FCX trade ideas

FCX Aluminum and copper stocks performed well last . FCX was able to finally break that 39$ range. Now we're approaching even tougher resistance here which you can see at 3 different areas. 1. White line - you can see the rejections off of here 2. RSI - You can see similar rejection here 3. fibonacci .236 or 42.62.. All 3 of these resistance will be met at the same time so we'll know if a breakout will happen or not. Finished last week with its Daily candlestick fully outside its bollingerband. I think we retest 40.50 before any leg higher
NYSE:FCXLong
by ContraryTrader
Long on FCX -- Eyeballing 15% gains Inflation is at its highest level in 40 years yet gold and copper being pretty stagnant investments this year (gold more so than copper). I'm going long on these guys at this price. Financials look good and from what I'm reading 2022 has a bright outlook for shareholders. These guys are going to have loads of cash for stock buybacks and/or dividend increases in 2022 after focusing on paying off a large portion of their debt these past few years. No stock is safe if the market truly corrects and goes bearish, but this stock seems safer than most to me given what they do and their track record of increased earnings these past 2 years.
NYSE:FCXLong
by DrewDimes
2
I like the Freeport Mcmoran stockI love FCX. Think about how much copper the green revolution will need. Add that on top of inflation worries and an economy picking up after COVID, a boom caused by new infrastructure friendly fiscal spending, and you've got a good combo for risk/reward on FCX. Am I stoked to be backing up the truck at $40 a share? Not really. I'd prefer a much lower price obviously. But the technical performance of the stock is strong, and I think it's a great long term hold regardless. Still, little trades are OK too ;P
NYSE:FCXLong
by dotpem
FCX Buying Opportunity coming upReasons for likely short pull back : FCX is encountering a historical/psychological resistance @ ~$40. FCX is at the top of its current Pitchfork price channel. FCX is overbought (above 75 on RSI). Reasons for likely recovery : Fundamental Analysis - there is a shortage of copper for surge in post COVID extreme lockdown manufacturing. - copper is an essential element in the production of most electronics, especially EV/alternative energy - also crucial in normal combustion vehicles Sentimental Analysis - FCX just avoided being purchased by a faltering company Barrick Gold, investors responded well to that - industry news points to continued increases in demand for copper in EV/alt energy - FCX just posted a surprise positive 24% in earnings with no signs of diminished performance moving forward Technical Analysis - FCX has established a strong price channel since its low point during the initial COVID sell off - FCX has been over 70 on the daily RSI 7 times since the COVID sell off and has risen in value over 600% PLAN Entry Price: $32 TGT Sale Price: 1st - $44, 2nd - $49, Final- $55 Stop Loss: $24 or breaks the price channel Max Position Size: 5% of portfolio Note - recent administration tax executive order may cause more severe market correction. Watch for signs of more dramatic pull back before entering long.
NYSE:FCXLong
by MakeMoneyCoESTB2020
3