The Hourly View for FCX
At the moment, FCX (Get Ratings)’s price is down $-0.12 (-0.37%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 100 hour moving average, resulting in them with price now being below it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
FCX ranks 8th in terms of today’s price percentage change out of Non-Metallic and Industrial Metal Mining stocks.
FCX’s Technical Outlook on the Daily Chart
At the moment, FCX’s price is up $1.02 (3.11%) from the day prior. This is the 2nd day in a row FCX has seen its price head up. As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe. Of note is that the 100 day changed directions on FCX; it is now pointing up. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The chart below shows FCX’s price action over the past 90 days.
FCX: Daily RSI Analysis
For FCX News Traders
News traders keeping an eye on FCX may find value in this recent story:
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
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