Just a quick post before the open today. Commodity stocks were in play yesterday and look to be continuing with their strength on the open today. I am specifically looking at US Steel (X), Freeport-McMoran (FCX) and Mosaic(MOS) today on the open. All three are up in the pre-market and approaching important intraday breakout levels.
X was very strong all day yesterday and is up about .50 in the pre-market and currently trading around 48.70 which happens to be yesterdays high. If we clear that level the next resistance I see is the 200ma on the daily at 50.85 and then 51.40. If we clear those levels 58 is the next reistance I see.
FCX is currently trading around yesterdays high of 78.80 in the pre-market. The level to watch is 79 which is basically the 2-day highs. The next level to watch for resistance after that is 81.66 and then 82.20. Longer term profit target above these levels is 88.30.
MOS has basically been in a consolidation box for the past 15-days. The levels to watch are 60 and 55. Currently we are trading around 59 so I don’t think we are going to get to 60 today but I may put a piece on if I see some strength on the open with the intension of adding on above 60 for a profit target of 65.00.
Best of luck today.
Kyle
Tagged: day trading, day trading blogs, day trading swing trading prop firms, equity prop firm, prop firms
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
