The Hourly View for FCX
Currently, FCX (Get Ratings)’s price is up $0.36 (1.04%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being above it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
FCX’s Technical Outlook on the Daily Chart
At the moment, FCX’s price is up $0.07 (0.2%) from the day prior. This move is a reversal from the day prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. The chart below shows FCX’s price action over the past 90 days.
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The post Freeport-Mcmoran Inc (FCX): Price Now Near $35.07; Daily Chart Shows An Uptrend on 100 Day Basis appeared first on ETF Daily News.
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