07/26/20
Blue Chip Daily Chart of the Week:
Freeport-McMoRan, FCX
Close: $13.12
Stop level for position traders and investors: Below the rising 50-day moving average.
please see chart analysis below
– FCX is in a technical uptrend above the rising 20, 50, 100 and 200-day moving averages, indicating a strong uptrend on multiple time frames.
– FCX is in an 8.3% pullback from the 52-week high.
– Breakout traders/investors might wait for a move over $14 before taking a position.
– Below is a monthly FCX chart that shows that a strong move over $14 could signal a new leg higher.
– FCX was our Chart of the Day Best Idea for subscribers on June 3, 2020 at $9.85 and is currently +32% since we posted it.
– FCX is on this week’s Top 20 best ideas list for subscribers, and was on the weekly Top 20 list as well on 6/7/20, 6/14, 6/28, and 7/05 as well.
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Have a great week,
Larry Tentarelli
Publisher
