I am now 70% confident that FCX will reach $60 in 2021.
Technical Reasons:
1. recent relative strength in price action. Compared with most NASDAQ stocks, FCX has already recovered from the lows, as of today.
Fundamental Reasons:
2. Economic recovery, especially manufacture of e-car will need cooper, so high demand
3. With that much dollar floating everywhere, inflation is coming, so the price of raw materials will go up.
Technical Reasons:
1. recent relative strength in price action. Compared with most NASDAQ stocks, FCX has already recovered from the lows, as of today.
Fundamental Reasons:
2. Economic recovery, especially manufacture of e-car will need cooper, so high demand
3. With that much dollar floating everywhere, inflation is coming, so the price of raw materials will go up.
Trade closed manually:
Seems like FCX lost its steam in short term. I still think FCX will reach $60 in 2021-2022, but I'm out for now - before I make sure it does not do what happened in Nov 09-Aug 10.
Trade active:
got back in with 2023 calls. Very obvious higher lows.