Freeport-McMoRan Inc: Major Upside Near Term

Freeport-McMoRan Inc (NYSE:FCX) is bouncing today. The stock is down almost 37% in just the last few months as commodities have collapsed. What is important to note today is that gold is flat but the gold miners are bouncing. This includes Freeport-McMoRan. The upside potential is large as the collapse has been epic. In addition, any actual gold bounce will add fuel to this fire. Look for a bounce back to the 29.50 level.

Gareth Soloway
InTheMoneyStocks.com