FCX has been in an uptrend. Everytime price retraces to the dynamic support, it's time to buy. First target at 36 and second at 38. Stop under the hammer.
Out of all the double bottoms I posted recently, this is the trade that seems most unlikely (I explained why on the chart). I decided to post this even if I'm not that confident because the divergence is obivious and we had a gap up at the open.
My stop is under the last low at 30.40$ and my first target is at 34$ round level, at previous resistance and 50% fib....
This stock has tanked as well. I believe that this stock is due for a pullback due to its price being over the 200 SMA and the S2 pivot point. My price entry would be at the neckline once the pattern has been confirmed. Price target is at $29.23 where the 76.4% fib level is located. Stop-loss is located under the previous highs at a previous support level.
For...
This is a simple price and volume plan to buy a pullback of Freeport-Mcmoran (FCX). The key is to patiently wait for a test of the high volume breakout that occurred September 2013, using the previous high volume price move to set a stop loss level.
Technical developments point to a brightening picture
- Shares completed a double bottom reversal on the main ascending trend line for the bullish trend.
- Shares broke the descending reisstance for the recent correcion
-Shares settles back above the 50-days SMA
-Main target at 38.00 and probably higher
