Freeport-McMoran Technical Analysis (NYSE:FCX)
Technical analysis relies on the belief that future price movements of a stock can be forecasted through the study of historical market data and technical charts. Just by looking at the Freeport-McMoran stock price one can't take a trading decision. A trader needs to find a chart pattern, which is a clear cut pattern formation on the FCX stock chart which creates a trading signal.
View technical indicators like moving averages - SMA and EMA, and bollinger bands for Freeport-McMoran. The technical analysis form of Freeport-McMoran stock analysis tries to understand the market by studying the stock market trend itself as opposed to other aspects like the company's fundamentals.
Freeport-McMoran Moving Average
Moving averages show the FCX stock price trend. The two most popular types of moving averages are the Simple Moving Average or SMA and the Exponential Moving Average or EMA. The longer the duration of the moving average, the higher the lag. For example, 200 day moving averages for Freeport-McMoran are mostly signals of long term trends and will help long term traders.
Freeport-McMoran Bollinger Bands
Bollinger bands consist of two price bands above and below a center line for any company stock like Freeport-McMoran. The tightening of bands is considered by most traders to be a precursor to sudden increase in volatility. Currently the stock price of $19.18 is in the upper range of Freeport-McMoran bollinger bands.
Freeport-McMoran Moving Average Convergence Divergence or MACD
The moving average convergence divergence or MACD is a technical indicator which helps gauge the stock price trend, as the indicator is useful in understanding the strength, direction and momentum of the stock price. The Freeport-McMoran MACD line is below the signal line.
Freeport-McMoran Relative Strength Index
The RSI technical indicator is a momentum oscillator. It compares the speed and change in price movements. If the RSI of FCX stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.