FCX - Possible head & shoulder formation, short from $14.83

FCX came up in capture in crush scan. It seems forming a head & shoulder formation. It can easily break down to $13.43 area.

* Trade Criteria *
Date First Found- February 16, 2017
Pattern/Why- Head & shoulder, Capturing the crush
Entry Target Criteria- Break of $14.83
Exit Target Criteria- $13.43
Stop Loss Criteria- $15.33

Please check back for Trade updates. (Note: Trade update is little delayed here.)

Yorum:

February 17th- Traded down & hit entry price today. Wait & see if it can hit target price soon.

February 21st- Huge 5.23% decline today with huge volume, and traded close to first target. Looking very good as short.

February 22nd- Another 2.83% decline today, and made a lower low. We are loving this short trade. Updating stoploss to $14.93