Freeport-McMoRan Trading Analysis (24/09/2024)

The trend is downward. The stock is trading in the range between 365 and 135 EMA. The upward wave structure is truncated. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an overbought condition.

Trading idea:

• Sell when the formation of the descending wave structure begins, when the wave A breaches the sloping channel of the upward truncated structure.
• Stop-loss at 45.80.
• Price targets at 43.50 and 39.50.

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