NYSE:FCX
My update for FCX,
I mentioned this stock as an idea for short. the trade is a daily trade, the stock is still weak.
Stock is forming now what's called mashroum over shape or in other hands H&S shape
The stock hits the resistance at point (A) and the low of point (B) both are strong resistance , we might see an upthrust tomorrow meaning making new high...
NYSE: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...
FCX came off its low in February, it is now digesting gains and could retrace further. I am watching price behaviour around this critical zone 7.83USD - 8.00USD.
FCX had a 62% gain in the last 60 days or so. A retracement is overdue. It broke it's 10.25 resistance turned to support and it's trendline. Expecting 7.82 with possible intra-day swings to 7.50 round number given it's high volatility.
Looks like FCX price linger point may be around $11.20 - $11.50. This is neither a recommendation nor advice for any trade. It is my own trade journal to improve chart reading skills and validate price predictions. Typically my target price is supposed to hit before hitting nearest swing low/high (depending on if price prediction is long or short)
Start of a long term long for this stock. Bottoming and forming a nice five wave impulsive pattern. First target met at 8.71, extension to 9.67 next. If it holds there, looking for 7.33-5.88 for a corrective pullback to add to position and get a nice wave 3.
Copper and gold miner Freeport-McMoRan Inc. (NYSE: FCX) announced Monday morning that it had agreed to sell a 13% ownership stake in its Morenci mine for $1 billion to its joint-venture partner in the Arizona mine, Japan-based Sumitomo. The transaction is expected to close in mid-2016. subject to regulatory approval and other customary closing...
Indonesia goverment has give export permision to PT Freeport INdonesia, a FCX13.09% Subsidiary
i'm sure in short term FCX13.09% will go to $10
More stock analysis bei5000.com/tag/en
Indonesia goverment has give export permision to PT Freeport INdonesia, a FCX Subsidiary
i'm sure in short term FCX will go to $10
more stock analysis bei5000.com/tag/en
It may not be the flavor of the month or year, but why not put some cash to work in this co.? It's worth a look.
Dollar average down to $3.50, & stay Long.
If you have the balls to play a long-term investment strategy it could be very close now then ever. Each bottom base has a unique characteristics and sometimes is very confusing and hard to define the zone of tolerance, for this security, it looks the bottom is not far if not printed already. Like at and around $7.8 area with stop loss at and around $5
FCX closed right on support of the lower trend line as shown. Price moving above from here would mean FCX has started a leg up after being beaten down. If comes down it would mean it sees prices 8.88 or 7.50.
Can go long at this point for a good R/R. MACD is falling which is not bullish and MA's are again falling which is again not bullish. Right at lower...
