FCX - Flag / Triangle BreakoutPossible Flag / Triangle Breakout
Possible targets of T1 & T2
T1 being height of triangle
T2 being Height of Pole
P.S : Important for the gap to be filled
Trade ideas
FCX : BLUE SKY BREAKOUT / SWING TRADEFreeport-McMoRan is a unique opportunity in a high copper priced world, with the ability to take advantage of growing demand for electric vehicles.
The company achieved significant 3Q 2020 results, and it's focused on aggressively paying down debt to $4.5 billion by YE 2021.
The company has an incredible FCF potential, with a double-digit FCF yield expected in 2021, driving strong shareholder returns.
seekingalpha.com
FCX near top of pitchfork channelFCX may touch the upper channel line of the pitchfork.
It is already outside the Bollinger Band on the 1D.
MACD has not yet curled back down.
RSI is overbought, but may have a little higher to go. (It is showing Bearish Divergence)
Pivot points: 1st Resistance = $45.01, 2nd = $46.05, 3rd = $47.60
Watch for entry around YELLOW RSI level.
Good Luck
The Four Companies Known for CopperThe four companies best known as copper miners don't all have the same strong upward trend year-to-date. Freeport McMoran (FCX) stands out as a stock, but don't overlook SCCO's 4% annual yield.
FCX on commodities/copper againConsidering how this has played out in the past and the current economic environment, we continue to pick our spots to go long copper.
Not the best R ratio but as usual we can make it better once in profit by moving TP up and SL to Breakeven.
Long FCXFCX is in a very nice channel. If FCX is over $41.80 my next PT is $43.60. This is not financial advice, just my thoughts.
Close target 39, rising wedge completedHourly chart completed rising wedge pattern,
There is no major support till 39
looks exhaustedlumber futures getting dumped, copper the next shoe to drop. Volume just getting a shellacking. Time to lock in profits unless you're looking for red candles to accrue moneyness.
The 30s looking really indecisive.
$FCX Freeport with its highest monthly RSI ever!Freeport now printing its highest monthly RSI ever! This monthly RSI can stay elevated, but normally some type of consolidation will occur.
dr. copper gap filled. party's overwe get it, copper is having a moment. FCX tho is trading at a whack multiple. It's primarily rallying because the ^TNX isn't, once the cost to service 10 year debt goes up, this stock goes down. They aren't the only copper game in town, in fact they're #3. #1 is owned by the Chilean government, and #2 is BHP, that currently trades at under 30x, roughly 2/3 of what FCX does.
Bullish commodities, but short dumb trades. This thing will rip your face off, slap a chart of the ^TNX alongside it and buckle up 🤙🏽
Rolled into the weeklies puts on this, will continue rolling out if rates rise and this thing peaks, which I believe it's close to. All that said, nice run, good stock to swing trade if you can time it right
FCX breaks upper R from 2014 with accelerating uptrendFCX took a bold move above upper R line. I want to see more volume for a move like this to confirm so I will wait to see how serious the bulls are.
R line is from 2014 at a previous peak. Trend is accelerating and well established. RSI peaks are divergent with price. Makes me hesitate. Might be corrected with new peak formed from breakage.
Wait for bull buy in and increased volume.
FCX: Upside PotentialFCX: Upside Potential. I liked her in the 17's and I love her now! New channels exist in green.
Show me $60!Revisiting textbook technical patterns. Classic double bottom, Fibonacci levels, Reversion to Trend’s and Inflation Adjusted Returns.
All b.e.a.utiful patterns happening. Blue call outs are where BHP and RIO indicate FCX should trade.
Copper Breaking OutNow that inflation is undeniable, the commodity trade is becoming obvious (and crowded). FCX is trying for an all time high right now. One strong day is all thats needed to punch through resistance and confirm a rally. SCCO is a lagging copper miner here if you want to buy this move lower.
