FCXCL trade ideas
fcx with another flag.. but ...what about the tariffs?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 long.. 4? 5? 10?! haha
GOOD LUCK!
FCX Breaking Out - Weekly ChartFreeport-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.
Option traders bet big On Freeport McMoRanEntry 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 cents. The series of three trades represented a more than $158,000 bullish bet.
From 9:52 a.m. to 9:54 a.m. likely the same trader bought 3,453 Freeport-McMoRan call options with a $12 strike price expiring on Feb. 21, 2020 near ask prices ranging from 54.2 cents to 56.1 cents. This series of three trades represented a more than $180,000 bullish bet.
Less than a minute later, potentially the same trader sold 2,301 Freeport-McMoRan call options with a $12 strike price expiring on Feb. 21, 2020 near the bid price at 56.1 cents. The trade represented a $129,086 bearish bet.
At 9:57 a.m., a trader bought 1,572 Freeport-McMoRan call options with a $13 strike price expiring on May 15, 2020 the ask price at 63.4 cents. The trade represented a $99,664 bullish bet.
Of the 13 large Freeport-McMoRan option trades on Thursday, 11 were either calls purchased at or near the ask or puts sold at or near the bid, trades typically considered to be bullish. The other two were calls sold at or near the bid, trades typically considered bearish.
Source Benzinga
Our previous trade setup call is now up 20% and we think the upside run continues.
Company profile
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.
FCX breaking out of downtrend?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
$FMC Freeport McMoran top of our list for trade talk action. Keep on the top of your watch list for tomorrow and Fridays trade talks, the stock chart is horrendous, thus if things go well it has massive upside potential, we see 50% gains or losses on the cards, dependent on how the trade discussions play out.
Company profile
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.
FCX and the looming recession?pure play copper not exactly best idea for global recession positioning.. but, who knows how this thing is going to go down. Copper is so important, it cant be left behind for long? Maybe it can? But accumulation at least shows some promise.. Should be fun next few months! Please let me know your thoughts.. FCX performance lately is scary. Big money know some details the little guys arent privy to just yet?
Options traders betting on a bounce in Freeport McMoranFundamentally there is no stimulant for FCX to stage any recovery as the world economy continues to struggle and demand reduces. Optimism over a trade deal is low and Europe continues to retrace.
Technically the stock has hit support so maybe options traders see a dead cat bounce possible.
Average analysts price target $13.01
Average analysts recommendation Overweight
Short interest 2.78%
P/E ratio 20.74
Company profile
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.
FCX sin fuerzas para definir por ahora. FCX contra resistencia de la cuña bajista de corto plazo que se mueve dentro de un movimiento bajista de más largo plazo.
Mientras mantenga la zona de 10.20/10.10 aún quedarán chances de romper al alza para ir a buscar los 12/12.15. Si no puede mantenerse por encima de este soporte inmediato, es muy probable que vaya a la zona de soportes de mayor importancia en los 9.60/9.50.
La salida alcista se daría sobre los 10.80 y la confirmación arriba de 11.
Los indicadores muestran dudas. El RSI aceleró más que el precio en las últimas ruedas pero con freno en la zona de ingreso a sobrecompra. MACD se mantiene al alza pero recprtando el histograma.
Estando comprado, vendería contra resistencia y espero resolución. Estando afuera, compro con la confirmación encima de 11 o llegando a la zona de soporte más importante en los 9.60/9.50.
FCX long setupFCX’s innovation outlook is trending up based on a current score of 64 out of 99, outperforming sector average. Jobs growth over the past year has decreased and insiders sentiment is positive. FCX is an Average Performer in terms of sustainability. It is most exposed to BP p.l.c. as its supplier. Over the past 4 quarters FCX beat earnings estimates 2 times and it pays dividend lower than its peers. For more analysis and articles visit our website .
