After Big Profit Prediction On $FCX, Here Is The Next Money MakeJust a month ago, I stated that Freeport-McMoRan Inc (NYSE:FCX) would bounce off a gap fill stock chart support at $12.15 and bounce sharply higher. This was a quick trade. Sure enough, within days, Freeport-McMoRan jumped from $12.15 to closed to $14.00. This was a beautiful trade worth 15%. Since then, Freeport-McMoRan has started to fall again, back to the $12.15 level. While it is support, this is just a minor level. Instead, the next big buy level is $11.15. Smart investors and stock traders should be ready to pounce on Freeport-McMoRan here. This will be the next big bounce, likely as much as 20%.
Trade ideas
Long FCX here- Daily charts are quite oversold
- Possible double bottom of the old inverse H&S neckline, seems like a support level
- Copper remains in an uptrend after recent 2 month correction
- Buy 13.56, Stop below 13.00
5% of portfolio, 4% risk, portfolio risk 0.2%
If the global economy doesn't implode this should do well long term. If there is a currency crisis this should also do well. Who knows? Seems like good setup here.
FCX - Possible head & shoulder formation, short from $14.83FCX came up in capture in crush scan. It seems forming a head & shoulder formation. It can easily break down to $13.43 area.
* Trade Criteria *
Date First Found- February 16, 2017
Pattern/Why- Head & shoulder, Capturing the crush
Entry Target Criteria- Break of $14.83
Exit Target Criteria- $13.43
Stop Loss Criteria- $15.33
Please check back for Trade updates. (Note: Trade update is little delayed here.)






















