Freeport-McMoran

Freeport-McMoran (FCX) has billions of pounds of copper and molybdenum in reserve along with millions of ounces of gold and silver. Copper and precious metals have been a strong markets in recent years, but what about the miners? The daily chart for Freeport looks like a bit of mess, but recent activity holds a few signals that point to a positive market in the stock. The Candlesitck on Monday April 18th is a Doji Star, typically these Candlestick formations point to change in trend, which has occured and been confirmed by 3 positive days. The RSI indicator also changed direction that day, and the recent volume trend was increasing hinting at a divergence from the previous share price drop.

A positve earnings report from FCX yesterday opened a new gap-up which has risen above previous resistence levels. Look for continued positive share price movement.