Open Question
FCX broke its 50 day moving average today and appears to have violated its
upward trendline. The stock itself appears to be trading in a range between 111
and 126...if it break that 111 level, watch out...no support below...
I like FCX long term...but the stock appears to be in some trouble... thoughts?
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It may just be cooling off for a little period of sideways consolidation. I'd
be more worried if it fell below $110.
Answered by Nick from Germantown
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From what I have been looking at it has broken its 50 day moving average a
couple of times in the last 2 weeks. And it does have support at its 200 day
moving average of 105. I do not think it will fall that far. I will agree it has
been range bound for the last couple of weeks to a month. I do however think
this is a very good play long.
Answered by Running with The Bulls
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