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Look for Shares of Freeport-Mcmoran to Potentially Rebound after Yesterday's 4.28% Sell Off

By Shiri Gupta

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.

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.

In the past 52 weeks, Freeport-Mcmoran share prices have been bracketed by a low of $8.43 and a high of $14.68 and are now at $10.96, 30% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

Keywords: rebounders freeport-mcmoran

Ticker(s): FCX