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Bearish Moving Average Cross by Freeport-Mcmoran (FCX)

By Amy Schwartz

Today, shares of Freeport-Mcmoran (NYSE:FCX) have fallen below their 10-day MA of $14.92 on a volume of 11.3 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Freeport-Mcmoran share prices have moved between a 52-week high of $17.06 and a 52-week low of $9.24 and are now trading 59% above that low price at $14.72 per share. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has advanced 3.9%.

SmarTrend recommended that subscribers consider buying shares of Freeport-Mcmoran on July 14th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $12.60. Since that recommendation, shares of Freeport-Mcmoran have risen 23.3%. We continue to monitor FCX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses freeport-mcmoran

Ticker(s): FCX