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Watch for Freeport-Mcmoran to Potentially Pullback After Gaining 1.23% Yesterday

By David Diaz

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.

Freeport-Mcmoran share prices have moved between a 52-week high of $14.68 and a 52-week low of $8.43 and are now trading 33% above that low price at $11.17 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has remained constant.

Keywords: rebounders freeport-mcmoran

Ticker(s): FCX