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SmarTrend Watching for Potential Pullback in Shares of Freeport-Mcmoran After 1.23% Gain

By Amy Schwartz

Freeport-Mcmoran (NYSE:FCX) traded in a range yesterday that spanned from a low of $11.00 to a high of $11.25. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $11.24 on volume of 7.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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.

Over the past year, Freeport-Mcmoran has traded in a range of $8.43 to $14.68 and is now at $11.17, 33% above that low. The 200-day and 50-day moving averages have moved 0.09% lower and 0.87% higher over the past week, respectively.

Keywords: rebounders freeport-mcmoran

Ticker(s): FCX