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Look for Shares of Freeport-Mcmoran to Potentially Pullback after Yesterday's 1.46% Rise

By Nick Russo

Freeport-Mcmoran (NYSE:FCX) traded in a range yesterday that spanned from a low of $18.65 to a high of $18.95. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $18.86 on volume of 5.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Freeport-Mcmoran share prices have moved between a 52-week high of $20.25 and a 52-week low of $9.24 and are now trading 102% above that low price at $18.69 per share. 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: rebounders freeport-mcmoran

Ticker(s): FCX