The Greedy Trader Weekly Analysis
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Freeport-McMoran Cp & Gld
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Summary:
Weekly :Lane's Stochastic is overboughtPrice is near the Fibonacci 38.2% retracement level
Daily :Price has crossed below the 50 Day Moving Average
Move cursor over the icon to see details.

It was the negative week for the Freeport-McMoran Cp & Gld (FCX). During the week, the FCX dropped -0.40 points, or -2.23%, and closed at 17.57 on Friday, February 09, 2018. Weekly volume was 68% above 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 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 14.33 and resistance is at 20.90. 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 uptrend had started on November 15, 2017 at 13.22 and reached 20.25 on January 25, 2018. FCX gained -7.03 points, or -53.18%, in 10 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Weekly Technical Indicators: [See FCX weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. 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 Lane's Stochastic help.

The weekly MACD line is above its signal line since December 8, 2017. 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 downtrend had started on January 25, 2018 at 20.25 and reached 16.64 on February 9, 2018. FCX lost 3.61 points, or 17.83%, in 15 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 16.09 and resistance is at 18.08. 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 short-term trend.

Daily Technical Indicators: [See FCX daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since January 9, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.

During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 32.41
Williams' Percentage Range (W%R) 77.80
Lane's Stochastic (%D-Slow) 26.51
Greed/Fear Indicator (GFI) 27.03
Moving Average Converg./Diverg. (MACD) 0.17
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.96
Williams' Percentage Range (W%R) 40.00
Lane's Stochastic (%D-Slow) 84.90
Overbought
Greed/Fear Indicator (GFI) 67.46
Moving Average Converg./Diverg. (MACD) 1.13
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 20.90
Upper Bollinger Band 20.37
Weekly Stochastic Crossing 19.45
20 Day Moving Average 19.07
Parabolic System 18.80
Weekly Trendline Resistance 18.08
50 Day Moving Average 17.95
Daily Stochastic Crossing 17.57
Price 17.57
Lower Bollinger Band 16.86
Weekly Trendline Support 16.09
Quarterly Trendline Support 14.33
Sector and Industry
Description Name Rank
Sector Basic Materials 4
Industry Copper 146
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 18.48
High Date 02/07/2018
Low 16.64
Low Date 02/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 18.08
Support 16.09
High 20.25
High Date 01/25/2018
Low 16.64
Low Date 02/09/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 13.22
Low Date 11/15/2017
High 20.25
High Date 01/25/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 20.90
Support 14.33
Low 11.05
Low Date 06/02/2017
High 20.25
High Date 01/25/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 3.52
Low Date 01/20/2016
High 20.25
High Date 01/25/2018
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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