I've been thinking about jumping into FCX the last few days. Everytime I am getting ready to jump in it goes down a few points. What would be a good entry point ? Please let me know. David
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Fcx
I've been thinking about jumping into FCX the last few days. Everytime I am getting ready to jump in it goes down a few points. What would be a good entry point ? Please let me know. David
Around 110 Might be good entry point. Near 50DMA! You can buy very small position now if you really feel and add more when it hits around 110-112 area.
Be careful and dont buy big position at once!
Thats a pretty bold prediction Zapp. I'm a little more bullish on this stock, but NOT yet. I do agree that this isnt the best time to enter until the stock goes lower, but IMO I don't think this stock is that bad. I wish I had it three years ago and kept it. But Zap has a great point, look at how this thing went from $110 to under $70 in January 08.
THe RSI, MACD, StochRSI are all down, but volume isn't high with these drops like it was in January, thats why I think it may be profit takers and the stock might reverse upward in the next week or so. JUST MY OPINION.
Here is a report from last month. Notice \ FCX reached the new YTD high of $125 last week. I've seen stocks reach their projected High and tank, over and over and over again. Its like an electric fence! I think that if this stock is bought now, the buyer will loose and have a stock that will take a long time to recover to last weeks high. Resistance is at $121.16. $82 I think would be only if copper dumps big time, and with China needing to be rebuilt I don't see that happening. If anything, Copper will start to go up big when China starts to rebuild sometime later this year.
