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Next Resistance Level for Freeport-McMoRan (FCX) is $9.84

By James Quinn

Shares of Freeport-McMoRan (NYSE:FCX) opened today above their pivot of $9.59 and have already reached the first level of resistance at $9.68. Analysts will be watching for a cross of the next upside pivot targets of $9.84 and $10.09.

In the past 52 weeks, Freeport-McMoRan share prices have been bracketed by a current low of $0.00 and a high of $23.97 and are now at $0.00. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has advanced 3.9%.

There is potential upside of 0.0% for shares of Freeport-McMoRan based on a current price of $0.00 and an average consensus analyst price target of $14.29. The stock should find initial resistance at its 200-day moving average (MA) of $9.24 and further resistance at its 50-day MA of $10.33.

SmarTrend recommended that its subscribers protect gains by selling shares of Freeport-McMoRan on September 14th, 2016 by issuing a Downtrend alert when the shares were trading at $9.94. Since that call, shares of Freeport-McMoRan have fallen 4.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts freeport-mcmoran

Ticker(s): FCX