krugman25
Short

FCX - Key resistance level reached & watching for bearish entry

NYSE:FCX   FREEPORT-MCMORAN INC
After a strong bearish move price has pull back to a key resistance level of 16.70 -17.00. This is a key area to begin watching for bearish price action in the form of bearish pin bar , engulfing bar, evening star , etc. The next key support level below is 14.00 which makes a good profit taking level and could make for an attractive risk/reward scenario.

An aggressively bearish position could be short stock or a moderately bearish position with some insurance would be to sell the 18 strike calls.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out