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Watch for Shares of Freeport-Mcmoran (FCX) to Approach Resistance at $9.08

By James Quinn

Shares of Freeport-Mcmoran (NYSE:FCX) have bullishly opened above the pivot of $8.92 today and have reached the first resistance level of $8.98. Analysts will be watching for a cross of the next upside pivot targets of $9.08 and $9.24.

There is potential upside of 109.0% for shares of Freeport-Mcmoran based on a current price of $8.98 and an average consensus analyst price target of $18.76. The stock should find resistance at its 200-day moving average (MA) of $10.16, as well as support at its 50-day MA of $7.83.

In the past 52 weeks, shares of Freeport-Mcmoran have traded between a low of $4.82 and a high of $13.58 and are now at $8.98, which is 86% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.8% while the 200-day MA has slid 0.4%.

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.

Keywords: pivot alerts freeport-mcmoran

Ticker(s): FCX