Freeport-McMoRan Sitting on a Five Year Support Level

By | December 9, 2014

Freeport-McMoRan ($FCX) shares are testing a five year support line. At the same time, the RSI and volume-weighted Money Flow Index are simultaneously oversold. The last time they were in this coordinated condition was at the 2008 low. These oscillators can stay overextended for long periods, so price action at this key inflection point will determine the intermediate-to-longer term direction of the stock.

38. FCX chart

One thought on “Freeport-McMoRan Sitting on a Five Year Support Level

  1. Pingback: Freeport-McMoRan Breaks Five Year Support - Rightview Trading

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