Nicholas Santiago
InTheMoneyStocks
Thursday, July 19, 2018
Freeport McMoran $FCX Is Sliding, Where's The Trade?
Freeport McMoran Inc (NYSE:FCX) is a leading mining company that focuses on copper, gold and molybdenum. The stock has been falling sharply since mid-April and is now trading around the $15.87 level. Traders should note that the stock is now trading below the 50-day moving average. This puts the stock in a weak technical position on the daily chart which should signal lower prices ahead. The next major support level for FCX stock will be around the $14.50 area. This level is where the 100-week moving average is currently and it should be support when it is retested.
