|Day's Range||1.2000 - 1.2000|
Freeport-McMoRan (FCX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Undervalued stocks are nothing new on Wall Street. And Goldman Sachs making a bullish call to defend a company's shares is not exactly news either. But combine the two and add in price charts that confirm a bottom, and it's clear that there's plenty of potential in some underloved stocks. Specifically, I'm talking about the diversified and superior potential in American Airlines (NASDAQ:AAL), Under Armour (NYSE:UAA) and Regeneron Pharmaceuticals Inc (NASDAQ:REGN).There are bulls in investing and then there's Goldman Sachs. One of the market's most storied investment firms certainly maintains reasons for being generally optimistic in its market calls. That's not to say Goldman isn't making prop side bets or that it's always bullish. But when it comes to paying customers, underwriting and the likes, a bull market is good for business.Given how this well-oiled machine operates, a buy recommendation from Goldman isn't exactly a rarity. Nevertheless, when the firm's chief U.S. strategist acknowledges major market headwinds, but sees superior upside potential in several undervalued stocks -- such as Netflix (NASDAQ:NFLX) and Freeport-McMoRan (NYSE:FCX) -- with 50% or more upside, it's time to take notice.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Tech Stocks to Buy Now for 2025 But from there, we can whittle down that list of names to these three stocks to buy, since they have charts that can actually justify all the fuss. With that said, let's dive a little deeper into what makes AAL, UAA and REGN stock worth a buy. Undervalued Stocks to Buy: American Airlines (AAL)As most investors may be aware, AAL stock has been left behind over the past few years while the broader market has continued to rally to all-time-highs. Shares are also down several percentage points since Goldman's initial call.But now AAL looks ready to take-off!American Airlines' weekly chart has confirmed a large pattern double bottom dating back to 2016 with a smaller variation of this formation. With shares of this undervalued stock also showing a supportive stochastics divergence during the development of the just-completed double bottom, it's time to go long AAL stock with confidence.AAL Stock Strategy: Goldman sees upside potential nearing 60% over the next 12 months for this undervalued stock. Use the failure of the paired double bottoms to contain losses if needed and take initial profits at $35 for a stronger risk-adjusted position. Under Armour (UAA)Under Armour is the next of our undervalued stocks to buy. Shares have been rallying for the last two years since initially falling out of favor with growth investors back in 2016, which was compounded by a series of missteps and earnings disappointments. But while UAA stock has gained ground since bottoming in 2017, as this past summer's price action attests, it hasn't been without incident.The good news is right now the home field advantage on the price chart goes to bullish investors in shares of Under Armour. * 7 Beverage Stocks to Buy Now UAA Stock Strategy: Goldman sees about 65% upside possible for UAA stock. I see diversification, a stop-loss slightly beneath the higher-low pattern low at $17.35 and a bonafide slam dunk if this undervalued stock can capture the firm's price objective. However, I'd gladly take the opportunity to trim profits along the way and inside the last earnings gap near $25 a share. Regeneron (REGN)Not that I've saved the best for last, but this undervalued stock to buy does happen to have the largest potential for upside according to Goldman. The firm estimates Regeneron has room to run by roughly 79%. What shares also have going for them is a prolonged bearish market of nearly four years. This may have finally bottomed on the monthly price chart.This view of REGN stock reveals shares have just confirmed a fresh lower low pivot within the biotech's downtrend. With the September pivot just narrowly undercutting the last important low from 2018, a double bottom is in place on the monthly chart. Because the pattern also has the backing of a bullish oversold stochastics crossover, this undervalued stock is a name to buy today.REGN Stock Strategy: Use an out-of-the-money bull call spread because of the risks associated with biotechs like REGN stock and its long history of price volatility.I'd also suggest sticking with the chart for exiting and taking profits along the way. Specifically, use $270 for containing downside exposure and $400 - $425 for reducing upside risk.Disclosure: Investment accounts under Christopher Tyler's management currently own positions in Under Armour (UAA) securities and its derivatives but no other securities mentioned in this article. The information offered is based upon Christopher Tyler's observations and strictly intended for educational purposes only; the use of which is the responsibility of the individual. For additional market insights and related musings, follow Chris on Twitter @Options_CAT and StockTwits. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Beverage Stocks to Buy Now * 10 Groundbreaking Technologies Created by Universities * 5 Semiconductor Stocks Worth Your Time The post 3 Undervalued Stocks to Buy According to Goldman Sachs appeared first on InvestorPlace.
Benzinga has examined the prospects for many investor favorite stocks over the past week. Bullish calls included the iPhone maker, a mining giant and a recent IPO. Bearish calls included beleaguered health ...
Our extensive research has shown that imitating the smart money can generate significant returns for retail investors, which is why we track nearly 750 active prominent money managers and analyze their quarterly 13F filings. The stocks that are heavily bought by hedge funds historically outperformed the market, though there is no shortage of high profile […]
Investors were willing to buy in for a second day in a row, encouraged the economy may get some help after all. Though it peeled back from its intraday high and volume was soft, the S&P 500 still ended Thursday's action up 0.64%.Source: Shutterstock Netflix (NASDAQ:NFLX) led the charge, gaining nearly 5% after Goldman Sachs dished out some kind words about the company. Despite its price-target cut, the investment bank still likes the stock, suggesting it only posed a "modest risk" relative to expectations. Freeport-McMoRan (NYSE:FCX) rallied roughly as much in response to an upgrade from UBS. The bank is a fan of the fact that the mining outfit is selling off some of its weaker assets, and further predicts copper prices will rise from here. * Boston Beer Company Stock Is a Credible Threat to Big Beer Holding the market back was PG&E (NYSE:PCG). The beleaguered utility name, driven to bankruptcy due to its role in California's devastating wildfires, plunged 29% when a judge ruled that key owners of the company's bonds would be allowed to submit a bankruptcy proposal of their own that could work against equity owners.InvestorPlace - Stock Market News, Stock Advice & Trading TipsNone of those names are as compelling as stock charts of AbbVie (NYSE:ABBV), Applied Materials (NASDAQ:AMAT) and Chubb (NYSE:CB) are today. Here's why they earned a spot on watchlists. Applied Materials (AMAT)It has been anything but a straight-line move, but Applied Materials shares have made reliable progress since December's bottom. The ebbs and flows have left behind a well-defined set of rising support and resistance levels, plotted as light blue dashed lines on both stock charts.Assuming the pattern is still repeating itself, there's more upside ahead following August's rebound. Last week and this week gave us more evidence that AbbVie is en route to the upper boundary of its trading range. On the other hand, a couple of new concerns have taken shape. * Click to EnlargeChief among the concerns is the possibility that horizontal resistance has taken shape around $52.40, where the stock topped out in July and then again in September. * The other bearish red flag here is the lack of volume behind the current advance, and the fact that the weekly chart's momentum is waning. That is, the once-rising MACD lines are flattening out. * The good news is, the purple 50-day moving average line served as technical support last week and this week, upping the odds of a breakout beyond the ceiling at $52.40. Chubb (CB)The bears have tried to knock Chubb off of its bullish course several times since December's low. Each time the bulls stepped up to the plate, rekindling the rally. The end result is the establishment of a rising support line marked in yellow on both stock charts.That floor is being tested now thanks to this week's selloff. But, this time is notably different than the prior instances. This time, CB stock is ripe for a lot of profit-taking, and the bulls are on their heels. One more bad day could start a selling avalanche. * Click to EnlargeOn the weekly chart the vulnerability is evident in two ways. One of them is the fact that shares reached a full RSI-overbought condition in August. The other is this week's MACD crossunder. * Those aren't the only red flags on the weekly chart. While it took a day-by-day effort to make it happen, the sheer size and scope of the setback this week translates into the biggest weekly selloff since October of last year. That sweeping change of heart (for no discernible reason) is telling in and of itself. * Underscoring this week's big losses are a couple of days of high volume selling. The would-be sellers have largely tipped their hand. They're worried. AbbVie (ABBV)After an incredible 2017, AbbVie investors have experienced little more than misery. Shares peaked in early 2018, and the downtrend in the meantime was renewed just around each time it looked like it would finally come to a close.The rebound effort that's taken shape since August may end the same way. But, the bottom leading into that rebound was different than any of the previous ones. It may have cut deep enough to act as a capitulation. We need one more good 'umph' to know for sure, as that would finally get a pent-up rebound underway. * Click to EnlargeThe make-or-break line now is the line that connects all the key peaks since May of last year, plotted as a red dashed line on both stock charts. That resistance is being tested right now. * The selling may have hit a climax and set the stage for a prolonged reversal in August, as the weekly chart finally saw its RSI indicator line finally move to the sub-20, oversold level then. * Underscoring the bullish case is the recent action at and around the gray 100-day moving average line. ABBV stock failed to hurdle that line on three attempts earlier this year, but found support there at the beginning of this month (highlighted).As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about him at his website jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Super Boring Stocks to Buy With Super Safe Returns * 10 Winning Stocks to Buy and Stick With for the Long Haul * Don't Give Up on These 4 Cannabis Stocks The post 3 Big Stock Charts for Friday: AbbVie, Chubb and Applied Materials appeared first on InvestorPlace.
Stocks started off the session with a bang, ripping higher on hopes of a partial trade deal with China. Cannabis stocks weren't among those rallying, though, as the industry was hammered on Thursday. Let's look at a few top stock trades. Top Stock Trades for Tomorrow No. 1: Freeport-McMoRan (FCX)Shares of Freeport-McMoRan (NYSE:FCX) caught a decent rebound Thursday as UBS analysts said the stock is oversold and slapped a buy rating on the name.InvestorPlace - Stock Market News, Stock Advice & Trading TipsDespite the report, the charts do not look all that healthy for FCX. For starters, it made new 52-week lows on Wednesday. Second, it's below all of its major moving averages and retracement levels.Even on Thursday, the stock's rally is being cut down by the declining 20-day moving average. At this stage, FCX is the very definition of a "prove-it" stock. Let's see how it does with the 50-day moving average at $9.58 and the 78.6% retracement at $9.77. * 10 Super Boring Stocks to Buy With Super Safe Returns Assuming these levels reject FCX, bulls will want to see the stock put in a higher low, potentially signaling that shares have bottomed. Top Stock Trades for Tomorrow No. 2: Coupa Software (COUP)Coupa Software (NASDAQ:COUP) has been demonstrating some relative strength over the past few weeks. For that very reason, it was a red-to-green trade candidate for me on Thursday morning.We pulled the trigger -- tweeted here -- as the stock has now gone on to post strong gains on the day. It's over that troubling range resistance between $148 and $150, as bulls look to see if it's got enough juice in the tank to take out its highs at $156.16.Above that mark could fuel a further rally. On a pullback, let's see if $148 to $150 acts as support. Below it puts the 50-day moving average in play. Top Stock Trades for Tomorrow No. 3: Hexo (HEXO)There will be a lot of cannabis investors shaking their heads at Hexo (NASDAQ:HEXO) today.The company slashed its fourth-quarter revenue estimates and yanked its outlook for up to $400 million in full-year sales. It sparked a wave of selling throughout the industry, with many names down double-digit percentages and/or hitting new 52-week lows.Hexo stock is no exception, down 23% and hitting new lows as we speak. The announcement also comes about a week after the company's CFO resigned.This one is a no-touch from me, particularly below its December low of $3.02. Above that mark could spark a rebound back up to its prior channel (blue lines), but even then, prior channel support may very well act as resistance. Top Stock Trades for Tomorrow No. 4: Cronos Group (CRON)Down about 6.5%, Cronos Group (NASDAQ:CRON) is not getting hit as hard as many of its peers. The move in cannabis stocks comes just a day after we looked at Canopy Growth (NYSE:CGC), warning investors of the precarious setup.Like CGC, Cronos has been making a series of lower lows and lower highs, a bearish technical development. However, it still has a significant level of support at ~$7.50, as well as channel support near current prices.Below $7.50 and the October 2018 low of $6.50 is on the table. If support holds and shares bounce, look for a test of the 20-day moving average. Top Stock Trades for Tomorrow No. 5: Aphria (APHA)Aphria (NYSE:APHA) stock is down over 13% on the day, erasing all of its enormous post-earnings rally from August (and more).Below $5 should have bulls cautious and below $4.55 should have them worried. Below the latter and the December low of $3.75 is on the table. For it to look better on the long side, APHA needs to reclaim $5 and the 20-day moving average.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Super Boring Stocks to Buy With Super Safe Returns * 10 Winning Stocks to Buy and Stick With for the Long Haul * Don't Give Up on These 4 Cannabis Stocks The post 5 Top Stock Trades for Friday: FCX, COUP, Cannabis appeared first on InvestorPlace.
Freeport-McMoRan Inc (NYSE: FCX ) seems poised to outperform peers in the back half of the year, given its disproportionally high gold exposure and production growth rate, according to UBS. The Analyst ...
Shares of Freeport-McMoRan surged Thursday after UBS upgraded its rating on the U.S.-based copper mining giant's stock. Freeport's stock price leaped 5.38% to $9.01 a share after analysts at UBS boosted their rating on the mining company to buy from neutral. UBS contends Freeport's stock has been "oversold," with investors missing the bigger picture of long-term growth potential in favor of a short-term focus on the impact from lower copper prices.
Investing.com - U.S. futures were flat on Thursday as investors remained cautious from mixed signals ahead of trade talks between the U.S. and China.
Dividend paying stocks like Freeport-McMoRan Inc. (NYSE:FCX) tend to be popular with investors, and for good reason...
Freeport-McMoRan Inc. today declared a cash dividend of $0.05 per share payable on November 1, 2019 to holders of record as of October 15, 2019 for its common stock.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Freeport-McMoRan Inc. New York, September 23, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Freeport-McMoRan Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
The United States is losing the race to extract and refine minerals used to make electric vehicles and should do more to spur domestic production, a bipartisan group of senators said on Tuesday. The push comes as China has grown to dominate the market for lithium, rare earths, cobalt and other so-called strategic minerals used to make a plethora of consumer products, a dominance that politicians have said poses a strategic threat to the United States. "China is consolidating control of the entire supply chain for clean technologies," Senator Lisa Murkowski, the Alaskan Republican who is the chair of the Senate's Energy and Natural Resources Committee, said.
Oil prices are flying after an attack on Saudi Arabia's oil processing facility, and oil fields required the country to cut production by 50%. After a volatile overnight session, Crude oil futures are set to open up 10.5%. U.S. stock futures are trading lower amid the elevated uncertainty.Source: Shutterstock Heading into the open, futures on the Dow Jones Industrial Average are down 0.37%, and S&P 500 futures are lower by 0.37%. Nasdaq-100 futures have shed 0.62%.In the options pits, calls outpaced puts by a wide margin on Friday. Approximately 20.9 million calls and 16.3 million puts changed hands during the session. However, the distance between call and put volume narrowed at the CBOE, where the single-session equity put/call volume ratio rose to 0.62. Meanwhile, the 10-day moving average slipped just under 0.62 -- a two-month low.InvestorPlace - Stock Market News, Stock Advice & Trading TipsOptions activity was elevated in a variety of stocks on Friday. JPMorgan Chase (NYSE:JPM) saw options volume jump alongside its breakout to record highs. Freeport-McMoRan (NYSE:FCX) continued to benefit from a rotation into metal and mining stocks. Finally, Apple (NASDAQ:AAPL) fell 1.9% after suffering a downgrade by Goldman Sachs (NYSE:GS).Let's take a closer look: JPMorgan Chase (JPM)The ongoing recovery in stock prices has been oh-so-good for JPMorgan shares. On Friday, the banking behemoth clinched a rousing breakout to record highs making it one of the best financial stocks on the Street to buy. * 10 Recession-Resistant Services Stocks to Buy With the resistance breach, JPM stock completed long-term basing pattern that was almost two years in the making. The jump could kickstart its long-term trend, which had been stuck in neutral during the consolidation. In the short run, JPM is overextended having rallied eight days in a row. So, a pause or pullback would be a welcome development to provide lower-risk entries on the daily time frame.The breakout sparked a flurry of activity on the options trading front. Popularity was split virtually 50-50 between calls and puts, and total activity zoomed to 235% of the average daily volume, with 139,772 contracts traded.Implied volatility has been on a downward trajectory this month, falling to a six-week low. At 23%, it now sits in the lower quartile of its one-year range. That means options are cheap. Long calls or call spreads are the way to go if you're speculating on further upside. Freeport-McMoran (FCX)Metal and mining stocks have awoken, and Freeport-McMoran is seeing some serious inflows. I count six accumulation days so far this month. FCX stock just had its best week of the year, rallying 14%. The surge carried the shares back above their 20-day and 50-day moving averages.Unfortunately, much work remains before its long-term downtrend is fully reversed. The 200-day moving average still looms heavy overhead, and we've seen many rallies that have started with strength ultimately fail this year. That said, the volume signs and sector rotation into mining stocks certainly looks promising for a bottoming attempt in FCX.On the options trading front, traders came after calls with a vengeance. Activity climbed to 214% of the average daily volume, with 105,602 total contracts traded. Calls ran the tables accounting for 86% of the day's take. Implied volatility didn't budge at all throughout the week, remaining at 43% or the 22nd percentile of its one-year range. Premiums are pricing in daily moves of 29 cents or 2.7%. Apple (AAPL)Just two days after launching to an eleven-month high, Apple suffered an unexpected downgrade by Goldman Sachs. The bank said Apple's accounting plans for the launch of Apple TV Plus would shrink the iPhone's profit margins and lowered the stock's price target from $187 to $165.The company issued a response stating, "we do not expect the introduction of Apple TV+, including the accounting treatment for the service to have a material impact on our financial results."Drama aside, AAPL stock was likely due for a pullback anyways. Friday's 2.4% drop returned AAPL to its breakout zone providing another attractive entry for those that missed last Wednesday's surge. Its price trend remains bullish with rising moving averages across time frames. * 7 Tech Stocks You Should Avoid Now On the options trading front, traders favored calls on the session. Total activity climbed to 184% of the average daily volume, with 900,312 contracts traded; 56% of the trading came from call options.The increased demand drove implied volatility higher on the day to 25% placing it at the 19th percentile of its one-year range. Premiums remain cheap and are pricing in daily moves of $3.44 or 1.6%.As of this writing, Tyler Craig didn't hold a position in any of the aforementioned securities. Check out his recently released Bear Market Survival Guide to learn how to defend your portfolio against market volatility. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Recession-Resistant Services Stocks to Buy * 7 Hot Penny Stocks to Consider Now * 7 Tech Stocks You Should Avoid Now The post Monday's Vital Data: JPMorgan Chase, Freeport-McMoran and Apple appeared first on InvestorPlace.
Trump’s tariff reprieve and trade war de-escalation lifted metal and mining stocks. Alcoa and Freeport-McMoRan have gained 25.8% and 12.8% in September.