FCX
The chart is very descriptive,You can see the start of selling to the herd on the left at point A.
Point B is the confirmation forming an up thrust bar with high volume, this is big money selling to the herd.
And this confirms the stock is weak.
The stock then drops in a down channel and changed behavior below the EMA's
Notice at point A the low of this wide range bar will act as a resistance because of the high volume combined with it.
Today at point C the stock tagged that low from below, and closes as a no demand bar (narrow spread, close in the mid up bar with low volume) there is no chance to break above the low of point A with such low volume.
The stock now in a down trend with weakness in the back ground from A and B.
The no demand at C confirms a very strong sell signal in such conditions.
