Freeport-McMoran Cp & Gld
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|It was a sixth consecutive positive week for the Freeport-McMoran Cp & Gld (FCX). During the week, the FCX gained 0.91 points, or 5.32%, and closed at 18.03 on Friday, June 08, 2018. It was the best weekly gain since April 20, 2018. Weekly volume was -23% below average. |
FCX is a member of Basic Materials Sector. Basic 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 uptrend had started on June 2, 2017 at 11.05 and reached 20.25 on January 25, 2018. FCX gained -9.20 points, or -83.26%, in 33 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 15.18 and resistance is at 24.27. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
Medium-term trend: [See FCX medium-term trend chart]
A medium-term downtrend had started on January 25, 2018 at 20.25 and reached 14.64 on May 1, 2018. FCX lost 5.61 points, or 27.70%, in 13 weeks. Price is near the Fibonacci 61.8% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Weekly Technical Indicators: [See FCX weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since March 9, 2018. This is an indication that the medium-term trend is down. 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 May 1, 2018 at 14.64 and reached 18.38 on June 7, 2018. FCX gained -3.74 points, or -25.55%, in 37 days. The price is now at the 9.36% retracement level.
Daily Technical Indicators: [See FCX daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. 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.
The daily MACD line is above its signal line since May 9, 2018. This is an indication that the short-term trend is up.
During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.