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Freeport-Mcmoran Bullish Moving Average Crossover Alert (FCX)

By Nick Russo

Today, shares of Freeport-Mcmoran (NYSE:FCX) have crossed bullishly above their 10-day moving average of $14.34 on a volume of 7.1 million shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher 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 58% above that low price at $14.61 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 10.9%. 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