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Freeport-McMoRan Inc. Message Board

  • bigmoneymine bigmoneymine Jan 26, 2011 12:47 PM Flag

    Wait For It

    Here's a tech chart I'm looking at right now -- not sure if link will work.

    http://stockcharts.com/h-sc/ui

    If it doesn't come up with all the bells & whistles, here's the set-up:

    6-12 mo. chart.
    10,20,50 dma lines
    Chaikin Money Flow
    TRIX
    Aroon Oscillator

    January may be shaping up like November -- we'll see.

    Don't buy until:

    -- We see FCX closing consistently above 10-dma on increasing volume. Or: 10-dma breaks out above 20-dma.

    -- Look for gap-up on strong volume; specifically, we want to see volume level greater than the last 4-5 sessions before the breakout.

    -- Chaikin Money Flow is green and ascending.

    -- Aroon Oscillator flips from negative to positive territory.

    -- TRIX (triple-smoothed MA's) used somewhat like MACD except it's more accurate & filters out day-to-day trading "noise". This is a more conservative indicator that usually ensures you're on the right side of the trend.

    You won't catch the exact bottom, that's not the point. You want to catch the next strong trend AFTER it has developed & has proven momentum.

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FCX
37.91-0.15(-0.39%)Jul 29 4:01 PMEDT

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