Shares of Freeport-McMoRan Inc (NYSE:FCX) are fall
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Posted On: 02/23/2017 3:50:58 PM
Shares of Freeport-McMoRan Inc (NYSE:FCX) are falling sharply as the whole metal sector collapses from an overbought condition. Freeport-McMoRan has hit near term support at $13.50 and will likely have a one or two day bounce. For quick swing trades, this is a great trading opportunity. However, please note the down-move will continued after the quick bounce, with an ultimate target of $12.00. At $12.00, Freeport-McMoRan becomes a strong buy and can be accumulated for a longer-term bounce.
Stock chart of Freeport-McMoRan Inc hits technical support
Stock chart of Freeport-McMoRan Inc hits technical support
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