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The_Cannalyst
Jun 17, 2016 12:35 PM

Freeport: Inverse H&S? 

Freeport-McMoRan, Inc.NYSE

Description

The shortterm trend is bullish, the midtermtrend bearish.
Should the stock be able to rise again to the former top at 14.15$ - a H&S would appear. The Minimum of this pattern would be 20.9$, the Maximum 23.8$.
This pattern only is active with Prices > neckline @ 14.15$.
Prices below 9.8 will generate a shortterm selling Signal with TP 8.75$/ 7.5$.
Below that Level, a midterm selling Signal would appear with TP = 3,40!!! ( ok ok.. ;-) - it`s a pure technical view!)

The Zone between 9.8-12 seems to be neutral -here is no action needed.

Good luck
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