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Freeport-Mcmoran (FCX) Crosses Pivot Point Resistance at $18.70

By James Quinn

Shares of Freeport-Mcmoran (NYSE:FCX) opened today above their pivot of $18.44 and have already reached the first level of resistance at $18.70. Should the shares continue to rise, the resistance pivots of $18.83 and $19.22 will be of interest.

Freeport-Mcmoran (NYSE:FCX) has potential upside of 4.0% based on a current price of $18.81 and analysts' consensus price target of $19.55. The stock should discover initial support at its 50-day moving average (MA) of $10.33 and subsequent support at its 200-day MA of $9.24.

In the past 52 weeks, shares of Freeport-Mcmoran have traded between a low of $9.24 and a high of $20.25 and are now at $18.81, which is 104% above that low price. The 200-day and 50-day moving averages have moved 0.77% lower and 3.89% 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: pivot alerts freeport-mcmoran

Ticker(s): FCX