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Freeport-Mcmoran Crosses Above its 10-day MA (FCX)

By Shiri Gupta

Freeport-Mcmoran (NYSE:FCX) shares have crossed bullishly above their 10-day moving average of $12.02 on a volume of 4.9 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.

In the past 52 weeks, shares of Freeport-Mcmoran have traded between a low of $9.24 and a high of $17.06 and are now at $12.38, which is 34% above that low price. 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 its subscribers protect gains by selling shares of Freeport-Mcmoran on February 21st, 2017 by issuing a Downtrend alert when the shares were trading at $14.28. Since that call, shares of Freeport-Mcmoran have fallen 16.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses freeport-mcmoran

Ticker(s): FCX