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Advanced TA SearchArchive - 3/15/2024 - Sign In to see current Signals. |
Freeport-McMoran Cp & Gld (FCX) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was a second consecutive positive week for the Freeport-McMoran Cp & Gld (FCX). During the week, the FCX gained 4.76 points, or 11.94%, and closed at 44.61 on Friday, March 15, 2024. Weekly volume was 45% above average. FCX is a member of Materials Sector. Materials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry. Long-term trend: [See FCX long-term trend chart] A long-term downtrend had started on January 25, 2023 at 46.73 and reached 32.83 on November 10, 2023. FCX lost 13.90 points, or 29.75%, in 41 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (32.67) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. FCX may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend. Medium-term trend: [See FCX medium-term trend chart] A medium-term uptrend had started on November 10, 2023 at 32.83 and reached 44.90 on March 15, 2024. FCX gained -12.07 points, or -36.77%, in 18 weeks. The chart has formed a Descending Triangle chart pattern. The uptrend resistance line (36.89) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend. Weekly Technical Indicators: [See FCX weekly technical indicators chart] Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help. During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help. Short-term trend: [See FCX short-term trend chart] A short-term uptrend had started on February 13, 2024 at 36.26 and reached 44.90 on March 15, 2024. FCX gained -8.64 points, or -23.83%, in 31 days. The chart has formed a Symmetric Triangle chart pattern. Daily Technical Indicators: [See FCX daily technical indicators chart] Daily Relative Strength Index and Williams' Percentage Range are overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Williams' Percentage Range or strongly overbought daily Lane's Stochastic. Use the following links to access Lane's Stochastic and Relative Strength Index help. The daily MACD line is above its signal line since March 5, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term uptrend is strong. The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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