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Archive
- 9/22/2023 -
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Freeport-McMoran Cp & Gld (FCX) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Freeport-McMoran Cp & Gld (FCX). During the week, the FCX dropped -3.22 points, or -7.98%, and closed at 37.15 on Friday, September 22, 2023. It was the worst weekly loss since April 21, 2023. Weekly volume was -27% below average.
FCX is a member of Materials Sector. Materials is the second 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 July 14, 2022 at 24.80 and reached 46.73 on January 25, 2023. FCX gained -21.93 points, or -88.43%, in 27 weeks. The price is now at the 43.68% retracement level.
 Medium-term trend: [See FCX medium-term trend chart]
A medium-term uptrend had started on May 24, 2023 at 33.05 and reached 44.70 on July 31, 2023. FCX gained -11.65 points, or -35.25%, in 9 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (39.17) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. FCX may retest the broken support line. It is considered to be a resistance line now. 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 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 September 1, 2023. The distance between MACD and the signal line is low, but getting bigger. 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 July 31, 2023 at 44.70 and reached 37.10 on September 22, 2023. FCX lost 7.60 points, or 17.00%, in 53 days. Price is near the trend low.
 Daily Technical Indicators: [See FCX daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and 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 links to access Lane's Stochastic and Williams' Percentage Range help.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.
The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. 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.
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