Freeport-McMoran Cp & Gld
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|It was the negative week for the Freeport-McMoran Cp & Gld (FCX). During the week, the FCX dropped -0.24 points, or -1.67%, and closed at 14.11 on Friday, December 01, 2017. Weekly volume was -39% below average. |
Long-term trend: [See FCX long-term trend chart]
A long-term uptrend had started on June 2, 2017 at 11.05 and reached 15.75 on August 25, 2017. FCX gained -4.70 points, or -42.53%, in 12 weeks. The chart has formed a Descending Triangle chart pattern. The uptrend support line (15.64) is broken. A broken support is considered to be a long-term bearish signal. 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 support in a long-term trend.
Medium-term trend: [See FCX medium-term trend chart]
A medium-term downtrend had started on October 16, 2017 at 15.59 and reached 13.22 on November 15, 2017. FCX lost 2.37 points, or 15.20%, in 4 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 12.60 and resistance is at 14.40. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
Weekly Technical Indicators: [See FCX weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since November 10, 2017. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.
Short-term trend: [See FCX short-term trend chart]
A short-term downtrend had started on November 24, 2017 at 14.54 and reached 13.84 on November 29, 2017. FCX lost 0.70 points, or 4.81%, in 5 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See FCX daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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.