• Return to Headlines

Look for Shares of Freeport-Mcmoran to Potentially Pullback after Yesterday's 13.42% Rise

By James Quinn

Freeport-Mcmoran (NYSE:FCX) traded in a range yesterday that spanned from a low of $10.68 to a high of $10.99. Yesterday, the shares gained 13.4%, which took the trading range above the 3-day high of $10.61 on volume of 4.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Freeport-Mcmoran has traded in a range of $8.43 to $14.68 and is now at $10.78, 28% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.1%.

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