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Firstquantum

FIRST QUANTUM MINERALS - LONG TERM BULLISHFirst Quantum Minerals shows an interesting long term chart pattern. On lower timeframes, FM completed its corrective wave (2) at 50% of the fib retracement and price has broken the terminus of wave (1). This provides confirmation that an impulsive wave (3) in now occurring and we could expect the next target levels. 1. CAD$ 58/share 2. CAD$ 74.45 Disclaimer: This technical analysis is intended for educational purposes only and must not be taken as investment advice.
TSX:FMLong
by Timgucci
5
FIRST QUANTUM MINERALS CORRECTION In very simple terms, I can see FQM stock price going to my second target levels around 61.8%, we could potentially see the stock price trade around CAD$16.32/share in the next few weeks. On the daily timeframe, price has been trading below the 100 SMA and we could see a continued bearish trend to complete the corrective phase. Please refer to initial correction forecast in link below. DISCLAIMER: This is just an idea and must not be taken as a trading or investment advice in anyway.
TSX:FMShort
by Timgucci