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Downtrend ExhaustionArchive
- 1/24/2025 -
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Freeport-McMoran Cp & Gld (FCX) Technical Analysis
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| Summary:
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| | It was the negative week for the Freeport-McMoran Cp & Gld (FCX). During the week, the FCX dropped -2.41 points, or -5.99%, and closed at 37.81 on Friday, January 24, 2025. Weekly volume was 64% above average.
FCX is a member of Copper Industry. Copper is the sixth most oversold industry. 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 uptrend support line (40.36) 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 September 26, 2024 at 52.61 and reached 36.46 on January 23, 2025. FCX lost 16.15 points, or 30.70%, in 17 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 35.22 and resistance is at 39.83. A Falling 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 Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a medium-term trend.
 Weekly Technical Indicators: [See FCX weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly 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.
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 downtrend had started on January 21, 2025 at 40.94 and reached 36.46 on January 23, 2025. FCX lost 4.48 points, or 10.94%, in 2 days. The price is now at the 30.13% retracement level.
 Daily Technical Indicators: [See FCX daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since January 6, 2025. The distance between MACD and the signal line is low and getting smaller.
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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