Freeport-McMoRan Trading Analysis (18/07/2024)
The trend is upward. The stock is trading in the range between 365 and 135 EMA. The down-sloping wave structure is truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an oversold condition.
Trading idea:
- Buy when the formation of the ascending wave structure begins, when the wave A breaches the sloping channel of the downward truncated structure.
- Stop-loss at 48.30.
- Price targets at 50.92 and 51.90.
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