The Greedy Trader Weekly Analysis
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Freeport-McMoran Cp & Gld (FCX)

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is strongly overboughtPrice is near the Fibonacci 23.6% retracement level
Daily :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overbought
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It was the negative week for the Freeport-McMoran Cp & Gld (FCX). During the week, the FCX gave back -0.08 points, or -0.46%, and closed at 17.15 on Friday, October 16, 2020. Weekly volume was -64% below 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 May 21, 2008 at 63.62 and reached 3.52 on January 20, 2016. FCX lost 60.10 points, or 94.47%, in 400 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See FCX medium-term trend chart]
A medium-term uptrend had started on March 19, 2020 at 4.82 and reached 17.50 on September 18, 2020. FCX gained -12.68 points, or -263.07%, in 26 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 16.52 and resistance is at 18.91. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See FCX weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought 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 weekly MACD line is above its signal line since May 15, 2020. This is an indication that the medium-term trend is up. 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 September 24, 2020 at 14.67 and reached 17.30 on October 16, 2020. FCX gained -2.63 points, or -17.93%, in 22 days. The price is now at the 5.70% retracement level.

Daily Technical Indicators: [See FCX daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since October 6, 2020. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.73
Williams' Percentage Range (W%R) 1.90
Strong Overbought
Lane's Stochastic (%D-Slow) 85.46
Overbought
Greed/Fear Indicator (GFI) 82.10
Overbought
Moving Average Converg./Diverg. (MACD) 0.37
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 72.19
Williams' Percentage Range (W%R) 2.90
Strong Overbought
Lane's Stochastic (%D-Slow) 76.40
Greed/Fear Indicator (GFI) 77.51
Moving Average Converg./Diverg. (MACD) 1.36
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 18.91
Upper Bollinger Band 17.89
Daily Stochastic Crossing 17.17
Price 17.15
Weekly Stochastic Crossing 16.58
Quarterly Trendline Support 16.52
Parabolic System 16.29
20 Day Moving Average 16.15
50 Day Moving Average 15.62
Lower Bollinger Band 14.91
Sector and Industry
Description Name Rank
Sector Materials 12
Industry Copper 120
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 14.67
Low Date 09/24/2020
High 17.30
High Date 10/16/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 14.67
Low Date 09/24/2020
High 17.30
High Date 10/16/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 14.67
Low Date 09/24/2020
High 17.30
High Date 10/16/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 18.91
Support 16.52
Low 4.82
Low Date 03/19/2020
High 17.50
High Date 09/18/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 63.62
High Date 05/21/2008
Low 3.52
Low Date 01/20/2016
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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