Molycorp (MCP) & Freeport-McMoRan Copper & Gold Inc. (FCX) - Weekly Stocks Pick December 5-9, 2011

During last week of trading, there were many stocks that continued to break out to the upside. Watch Resistance & support levels Below are a list of stocks that I am watching December 5-9, 2011.You can also check previous stocks to buy reports - Right here & Previous Weekly Stocks Pick Gainers- Right here

Molycorp Inc. (MCP)-  Molycorp (MCP) was nice rebound last week.New support located at $26.68 and resistance area is $35.Stock nice. Share of  Molcorp (MCP) trade under $30  November which is good for 1/2 long my position for 2012, I am looking for 2nd  half go long for low $20s if any market correction. I believe that stock could see $50 stock next 12 months.This is my one of the Top Pick for 2012.

12/5-12/9 Weekly MCP resistance, pivot & support

Resistance R3 42.75, R2 38.85, R1 35.68
Pivot Point 31.78
Support  S1 28.61, S2 24.71, S3 21.54

Technical Analysis Stock Charts: Charts Below

60m chart
Daily chart

Freeport-McMoRan Copper & Gold Inc. (FCX)- Share of Freeport-McMoRan Copper & Gold Inc. (FCX) is trading near $30 in late 2011. Stock was low $28.65 which is are good buying opptunity again if any correction.This is another stock could be double from here or stock could go $60-$70 stock next 12 months. Freeport-McMoRan Copper &  Gold Inc. (FCX) is found support in near $30s.FCX has resistance $45 followed by $48 and  support area is $37. FCX is a buy low $30 any market correction.This is my one of the Top Pick for 2012.

12/5-12/9 Weekly FCX resistance, pivot & support

Resistance R3 46.29, R2 43.33, R1 41.31
Pivot Point 38.35
Support  S1 36.33 S2 33.37, S3 31.35

Technical Analysis Stock Charts: Charts Below

60m chart
Daily chart


Weekly Stocks Pick Rule: When ever I buy or short stocks if that stocks go up short term quick 5-10% gain, I took profit and buy back in low price again. When ever I buy stock always have stop price. Always protect my original capital.

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