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Bullish Moving Average Cross by Freeport-Mcmoran (FCX)

By Nick Russo

Today, shares of Freeport-Mcmoran (NYSE:FCX) have crossed bullishly above their 10-day moving average of $6.60 on a volume of 6.9 million shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Freeport-Mcmoran has traded in a range of $4.82 to $14.68 and is now at $7.14, 48% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 6% while the 200-day MA has slid 1.1%.

SmarTrend is monitoring the recent change of momentum in Freeport-Mcmoran. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Freeport-Mcmoran in search of a potential trend change.

Keywords: moving crosses freeport-mcmoran

Ticker(s): FCX