Bearish Moving Average Cross by Freeport-McMoRan (FCX)
Today, shares of Freeport-McMoRan (NYSE:FCX) have fallen below their 10-day MA of $12.28 on a volume of 16.5 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.
In the past 52 weeks, shares of Freeport-McMoRan have traded between a low of $3.52 and a high of $23.97 and are now at $11.75, which is 234% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has advanced 3.9%.
SmarTrend is monitoring the recent change of momentum in Freeport-McMoRan. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Freeport-McMoRan in search of a potential trend change.
Keywords: moving crosses freeport-mcmoran