Freeport-McMoran Copper & Gold Stock Getting Very | Commodities
In trading on Friday, shares of Freeport-McMoran Copper & Gold (Symbol: FCX) entered into oversold territory, altering arms as low as $28.485 per share. We outline oversold territory utilizing the Relative Strength Index, or RSI, which is a technical evaluation indicator used to measure momentum on a scale of zero to 100. A stock is taken into account to be oversold if the RSI studying falls beneath 30.
In the case of Freeport-McMoran Copper & Gold, the RSI studying has hit 26.2 — by comparability, the universe of metals and mining stocks coated by Metals Channel presently has an average RSI of 38.0, the RSI of Spot Gold is at 8.5, and the RSI of Spot Silver is presently 12.1.
A bullish investor may take a look at FCX’s 26.2 studying as a signal that the current heavy promoting is within the course of of exhausting itself, and start to search for entry level alternatives on the buy aspect.
Looking at a chart of one yr efficiency (beneath), FCX’s low level in its 52 week vary is $28.485 per share, with $55.235 because the 52 week high level — that compares with a final trade of $30.28. Freeport-McMoran Copper & Gold shares are presently trading down about 11.7% on the day.
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MAIN Next Dividend DateThe views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.
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