Chart Patterns & Algorithmic Trader (Aug. 24, '20) (66)
FCX Cup & Handle Pattern
s
Reviewed in CPAT 8/17/20
Freeport-McMoRan Inc (FCX) has formed a Cup and Handle pattern on its daily chart
and trading above the breakout level of $13.74. C&H patterns are valid only when price
closes above the breakout level. A long trade is entered above the breakout level with
a stop placed below the lowest low of the mid cup $9.23, and the handle low $12.39.
Targets are placed at $16.99, $19.1 to $20.6 and 22.5.
www.surinotes.com