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Bearish Moving Average Cross by Freeport-Mcmoran (FCX)

By Nick Russo

Freeport-Mcmoran (NYSE:FCX) crossed under its 10-day moving average of $18.50 on a volume of 9.5 million shares. Swing traders may find an opportunity 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 $9.24 and a high of $20.25 and are now at $17.95, which is 94% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.9% while the 200-day MA has slid 0.8%.

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

Ticker(s): FCX