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After Yesterday's Decline of 4.28%, Freeport-Mcmoran Offers Investors Better Value

By David Diaz

Freeport-Mcmoran (NYSE:FCX) traded in a range yesterday that spanned from a low of $10.85 to a high of $11.06. Yesterday, the shares fell 4.3%, which took the trading range below the 3-day low of $11.19 on volume of 2.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Freeport-Mcmoran has traded in a range of $8.43 to $14.68 and is now at $10.96, 30% above that low. The 200-day and 50-day moving averages have moved 0.07% lower and 0.37% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Freeport-Mcmoran and will alert subscribers who have FCX in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders freeport-mcmoran

Ticker(s): FCX