When the Price of Freeport-mcmoran Inc FCX Talks, People Listen

January 21, 2022, 17:00 pm ET, BY Thomas Y.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

This is not EF Hutton, but it could be more #powerful.  A picture speaks a thousand words, they say, and the #priceaction of Freeport-mcmoran Inc (NYSE: FCX) tells an important story.  The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity.  The data below for FCX can be used as an example, and demonstrate how to do this for other stocks too.  This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports. 

Longer Term Trading Plans for FCX

• Buy FCX slightly over 38.92 target 43.94 stop loss @ 38.81 Details

The technical summary data tells us to buy FCX near 38.92 with an upside target of 43.94. This data also tells us to set a stop loss @ 38.81 to protect against excessive loss in case the stock begins to move against the trade. 38.92 is the first level of support below 41.06 , and by rule, any test of support is a buy signal. In this case, support 38.92 is being tested, a buy signal would exist.

• Short FCX under 43.94, target 38.92, stop loss @ 44.07 Details

The technical summary data is suggesting a short of FCX as it gets near 43.94 with a downside target of 38.92. We should have a stop loss in place at 44.07though. 43.94 is the first level of resistance above 41.06, and by rule, any test of resistance is a short signal. In this case, if resistance 43.94 is being tested, a short signal would exist.

Swing Trading Plans for FCX

• Buy FCX slightly over 43.94, target 46.29, Stop Loss @ 43.81 Details

If 43.94 begins to break higher, the technical summary data tells us to buy FCX just slightly over 43.94, with an upside target of 46.29. The data also tells us to set a stop loss @ 43.81 in case the stock turns against the trade. 43.94 is the first level of resistance above 41.06, and by rule, any break above resistance is a buy signal. In this case, 43.94, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short FCX near 43.94, target 38.92, Stop Loss @ 44.07. Details

The technical summary data is suggesting a short of FCX if it tests 43.94 with a downside target of 38.92. We should have a stop loss in place at 44.07 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 43.94, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for FCX

• Buy FCX slightly over 43.52, target 43.94, Stop Loss @ 43.42 Details

If 43.52 begins to break higher, the technical summary data tells us to buy FCX just slightly over 43.52, with an upside target of 43.94. The data also tells us to set a stop loss @ 43.42 in case the stock turns against the trade. 43.52 is the first level of resistance above 41.06, and by rule, any break above resistance is a buy signal. In this case, 43.52, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short FCX near 43.52, target 38.92, Stop Loss @ 43.62. Details

The technical summary data is suggesting a short of FCX if it tests 43.52 with a downside target of 38.92. We should have a stop loss in place at 43.62 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 43.52, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

FCX Ratings for January 21:

Term →	Near	Mid	Long
Rating	Strong	Strong	Strong
P1	0	0	34.19
P2	43.52	43.82	38.92
P3	44.78	46.29	43.94

Support and Resistance Plot Chart for FCX

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