FCX, Freeport McMoran is testing a long term resistance trend-line. Copper has been unfavorable as of late due to the slowdown in Chinese growth. China is the largest buyer of Copper in the global market. However, recently, the dollar down move has been reflationary for commodities in general, with the CRB commodities index rallying. Moreover, Chinese PMI's have...
Short update.
Please reference my first FCX chart for my initial thoughts.
The current rally is sitting roughly at 78.6% retracement of the prior move from April 16th of 2019. As you can see we paused a little bit and consolidated after the initial move up from $8.30 (which also resulted in a pause/sideways movement). I'm looking for AT LEAST a movement to...
Nice little 1:3 RR with potential to double within the year. This could be the start of wave 5 that could go to 17 / share.
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here's something im sure we've all been watching.. looks pretty flaggy. IF the trade stuff is settling out, and markets general attitude stays upbeat. I think this looks real nice.
Of course this has a lot of strings attached.
good luck!
fcx buyers are very excited for the future! has been a good run. but, seems we never really got past phase 0 on the trade deal.. will the tariffs start to become bullish? Harder us pushes maybe quicker we find a solution.. agree to disagree?
Taking a bit off table.. keeping close eye on copper.. who knows how high it may run. has been depressed for so...
Freeport-McMoran is attempting to break out of a bullish wedge pattern. There is a lot of options activity in this name with the February 21 $14 and the December 13 $12.50 calls. Note the bullish divergence just prior to its recent bullish move.
We want to see the stock hold above the break out level. If the price can hold I am targeting $13.90 as my initial price target.
Espero que luego de llevar una hora subiendo y de haber tocado esta resistencia semanal la cual ha funcionado como soporte anteriormente, se realice un retroceso de almenos 30 centavos de dólar.
@gio_taborda
Entry level $11.54 = target price $ 13.35 = Stop loss $ 10.83
Our previous trade setup call is now up 20% and we think the upside run continues.
Option traders betting big on upside move.
From 9:48 a.m. to 9:50 a.m. a trader bought 2,682 Freeport-McMoRan call options with a $13 strike price expiring on May 15, 2020 near ask prices ranging from 59 cents to 60...
Attention to FCX if stock can continue to move higher. Trendline indicates 1.80% annual inflation. From a high of $17 in 1996 would equate to $~$26 2019.
From a low of ~$3.81 in Nov 2000 a 1.80% annual inflation rate would equate to ~$5.35.
From a mid point of $10.50 = $15.27
FCX Long rally and correction wave prediction. Now it looks like long. Here is a prediction of the rally pattern which may have a longer or shorter time scale than the time scale presented here.
Freeport-McMoRan, Inc. engages in the mining of copper, gold, and molybdenum. It operates through the following segments: North America Copper Mines; South America Mining; Indonesia Mining; Molybdenum Mines; Rod and Refining; Atlantic Copper Smelting and Refining; and Corporate, Other, and Eliminations. The North America Copper Mines segment operates open-pit copper mines in Morenci, Bagdad, Safford, Sierrita and Miami in Arizona; and Chino and Tyrone in New Mexico. The South America Mining segment includes Cerro Verde in Peru and El Abra in Chile. The Indonesia Mining segment handles the operations of Grasberg minerals district that produces copper concentrate that contains significant quantities of gold and silver. The Molybdenum Mines segment includes the Henderson underground mine and Climax open-pit mine, both in Colorado. The Rod and Refining segment consists of copper conversion facilities located in North America, and includes a refinery, rod mills, and a specialty copper products facility. The Atlantic Copper Smelting and Refining segment smelts and refines copper concentrate and markets refined copper and precious metals in slimes. The Corporate, Other, and Eliminations segment consists of other mining and eliminations, oil and gas operations, and other corporate and elimination items. The company was founded by James R. Moffett on November 10, 1987 and is headquartered in Phoenix, AZ.
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FCX
