Dec. 6 at 1:38 AM
Actionable Trade Alert for
$FCX:
Market Context:
$FCX is currently trading at
$44.61, showing strong momentum as it approaches the 60D high of
$46.29. The RSI at 69.22 indicates overbought conditions, suggesting a potential pullback or consolidation before further upward movement.
Directional Bias: The alignment of the MA30 (41.21) and MA50 (40.86) below the current price indicates a bullish trend. However, the high RSI suggests caution as it may lead to a short-term correction.
Trade Plan:
- Suggested Entry:
$44.00 (anticipate a slight pullback)
- Stop Loss:
$42.00 (to limit risk)
- Take Profit Targets:
- Target 1:
$46.00 (4% gain)
- Target 2:
$48.00 (7% gain)
- Target 3:
$52.00 (17% gain)
This plan allows for a strategic entry while managing risk effectively. Monitor the price action closely around the targets.
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