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- 5/3/2024 -
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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 gave back -0.05 points, or -0.10%, and closed at 50.45 on Friday, May 3, 2024. It was the worst weekly loss since March 1, 2024. Weekly volume was 64% above 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 uptrend had started on July 14, 2022 at 24.80 and reached 52.52 on April 29, 2024. FCX gained -27.72 points, or -111.77%, in 93 weeks. The price is now at the 7.47% retracement level.
Medium-term trend: [See FCX medium-term trend chart]
A medium-term uptrend had started on November 10, 2023 at 32.83 and reached 52.52 on April 29, 2024. FCX gained -19.69 points, or -59.98%, in 24 weeks. The price is now at the 10.51% retracement level.
 Weekly Technical Indicators: [See FCX weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 Williams' Percentage Range help.
The weekly MACD line is above its signal line since March 8, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. 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 April 23, 2024 at 47.10 and reached 52.52 on April 29, 2024. FCX gained -5.42 points, or -11.51%, in 6 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See FCX daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 12, 2024.
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.
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