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Archive
- 1/10/2025 -
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Freeport-McMoran Cp & Gld (FCX) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week after 5 consecutive negative weeks for the Freeport-McMoran Cp & Gld (FCX). During the week, the FCX gained 1.27 points, or 3.37%, and closed at 38.98 on Friday, January 10, 2025. It was the best weekly gain since September 27, 2024. Weekly volume was 25% above average.
FCX is a member of Materials Sector. Materials is the most oversold 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 July 14, 2022 at 24.80 and reached 55.24 on May 20, 2024. FCX gained -30.44 points, or -122.74%, in 96 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (40.14) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a long-term trend.
 Medium-term trend: [See FCX medium-term trend chart]
A medium-term downtrend had started on May 20, 2024 at 55.24 and reached 37.19 on January 3, 2025. FCX lost 18.05 points, or 32.68%, in 32 weeks. The price is now at the 9.92% retracement level.
 Weekly Technical Indicators: [See FCX weekly technical indicators chart]
Weekly Relative Strength Index is oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Relative Strength Index or strongly oversold weekly Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish 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 links to access Lane's Stochastic and Relative Strength Index help.
The weekly MACD line is below its signal line since November 8, 2024. 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 January 3, 2025 at 37.19 and reached 40.64 on January 10, 2025. FCX gained -3.45 points, or -9.28%, in 7 days. The price is now at the 48.12% retracement level.
 Daily Technical Indicators: [See FCX daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal.
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 risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
 Candlestick pattern: [See FCX candlestick chart pattern]
On Friday the chart has formed a Bearish Dark Cloud Cover Candlestick pattern. Bearish Dark Cloud Cover pattern is a trend reversal indicator which signifies the end of an uptrend and the start of a downtrend. The reliability of the Bearish Dark Cloud Cover pattern is considered a highly reliable pattern of market reversalUse the Technical Stock Screener to see the list of stocks that had a Bearish Dark Cloud Cover Candlestick pattern during the last week.
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