Freeport-McMoRan Breaks Five Year Support

By | December 13, 2014

On Tuesday, I noted that: 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.

43. FCX charts

Support was taken out and the stock is down over 16% on the week. The next level of near term support? Good question.

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