Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Doc Copper Trade completed; Ave gain = 25%

Courtesy of Chris Kimble

The Power of the Pattern has shared several times on this blog, that a bullish pattern had formed in Ole Doc Copper. With the bullish pattern in play, we shared with our members and on the blog that Freeport McMoran looked to be a good asset to own a couple of months ago. FCX had formed one of our favorite bullish patterns (bullish falling wedge), where two-thirds of the time and upside rally takes place. This pattern also allows one to set tight stops in case of a breakdown.

We wanted to update viewership of the blog and the action that was taken on FCX, as the position was closed this week:

FCX weekly copper weekly, chris kimble chart

 

FCX was purchased as it looked to be at the apex of a bullish falling wedge back on 5/19 and was attempting an upside breakout. Stops were set tight below the bottom of the bullish falling wedge, at the time the position was taken.

As FCX took off, we started sharing with our Premium & Metals members that it was “Pocket Change” time, where profits were taken on part of the position. Of late with gains on remaining shares up almost 30%, stops were pulled on the position. This week the stops were hit and the last 40% of the shares owned were sold.

We are now using the capital and gains to find another hard hit asset that looks to be forming a bullish pattern.

FYI- Taking gains on FCX does not mean we are now bearish on the stock. Picking up 25% in 100-days is enough for now, as momentum is lofty in Copper and FCX.

From Kimble Charting Solutions.  We strive to produce concise, timely and actionable chart pattern analysis to save people time, improve your decision-making and results

Send us an email if you would like to see sample reports or a trial period to test drive our Premium or Weekly Research

Website: KIMBLECHARTINGSOLUTIONS.COM


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!