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Freeport-Mcmoran Falls 1.88% on Heavy Volume: Watch For Potential Rebound

By James Quinn

Freeport-Mcmoran (NYSE:FCX) traded in a range yesterday that spanned from a low of $10.40 to a high of $10.79. Yesterday, the shares fell 1.9%, which took the trading range below the 3-day low of $10.62 on volume of 8.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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.

Over the past year, Freeport-Mcmoran has traded in a range of $9.60 to $18.38 and is now at $10.46, 9% above that low. The 200-day and 50-day moving averages have moved 0.82% lower and 1.25% lower over the past week, respectively.

Keywords: rebounders freeport-mcmoran

Ticker(s): FCX