Don't Ignore This Chart!

Freeport McMoran (FCX) Jumps To New Highs

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Freeport McMoran (FCX) is jumping to new highs today on the back of renewed interest in Copper and Gold.


This is an excellent entry for breakout buyers. The MACD is just turning up again above zerom the volume on today's breakout is above average and the SCTR is at 97.8 so there is lots of strength here. You might have to give it room with your stop at $15.25 to allow it to consolidate.

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Good trading,
Greg Schnell, CMT, MFTA.

 
Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA). Learn More
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