FCX short Short

Freeport-McMoRan, Inc.NYSE

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⋅ Apr 24, 2020 3:34 AM

Earnings report tomorrow morning. Should be pretty abysmal....covid, copper not doing so hot, revenue should be down with mine closures and low consumption/need for copper. Took some put positions EOD today. Lets see what happens. Technical rationale on the chart.

The "eyes" are my potential targets for tomorrow.

Questions/comments welcome.

Full send or no send.

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⋅ Apr 24, 2020 3:38 AM

tradingview.com/chart/RGQXFDbR/

8 period RSI and MFI are in no mans land, around 50. The mid point usually causes a reaction and I expect them to turn down.

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⋅ Apr 24, 2020 3:38 AM

This is the correct link/image

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⋅ Apr 24, 2020 4:02 PM

As you can see I was wrong about the earnings gap direction. I need to do more studying as I am still learning how to appropriately draw Gann angles.

Looking at a weekly chart, perhaps we get closer to the 50% retracement and Gann angle resistance and then turn down.

Indices look ready to turn over next week.

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