Freeport-McMoRan Trading Analysis (20/06/2024)

The trend is upward. The stock is traded in the range between 365 and 135 EMA. The down-sloping inner wave structure is truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an oversold condition. The downward channel of the truncated downward structure has been breached.

Trading idea:

Buy when the formation of the ascending wave structure begins. 

Stop-loss at 46.52.

Price targets are 51.15 and 53.87.

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