• Return to Headlines

Next Support Level for Freeport-Mcmoran (FCX) is $13.82

By David Diaz

Freeport-Mcmoran (NYSE:FCX) has opened bearishly below the pivot of $14.28 today and has reached the first level of support at $13.99. Investors may be interested in a cross of the next downside pivot targets of $13.82 and $13.36.

There is potential upside of 0.2% for shares of Freeport-Mcmoran based on a current price of $13.91 and an average consensus analyst price target of $13.94. The stock should find initial support at its 50-day moving average (MA) of $10.33 and further support at its 200-day MA of $9.24.

Freeport-Mcmoran share prices have moved between a 52-week high of $17.06 and a 52-week low of $9.24 and are now trading 51% above that low price at $13.91 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.9% while the 200-day MA has slid 0.8%.

SmarTrend recommended that subscribers consider buying shares of Freeport-Mcmoran on July 14th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $12.60. Since that recommendation, shares of Freeport-Mcmoran have risen 12.3%. We continue to monitor FCX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts freeport-mcmoran

Ticker(s): FCX