• Return to Headlines

After Yesterday's Decline of 1.04%, Freeport-Mcmoran Offers Investors Better Value

By James Quinn

Freeport-Mcmoran (NYSE:FCX) traded in a range yesterday that spanned from a low of $17.55 to a high of $17.99. Yesterday, the shares fell 1.0%, which took the trading range below the 3-day low of $17.67 on volume of 6.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Freeport-Mcmoran on May 17th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $16.82. Since that recommendation, shares of Freeport-Mcmoran have risen 5.9%. We continue to monitor FCX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, Freeport-Mcmoran share prices have been bracketed by a low of $11.12 and a high of $20.25 and are now at $17.62, 58% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.2%.

Keywords: rebounders freeport-mcmoran

Ticker(s): FCX