FCX stock: buy or sell
Jan 18th, 2021
FCX stock brief
- Freeport-McMoRan closed last Friday at $30.35 after dropping a -5.13%.
- Freeport-McMoRan is presenting its earnings report on Thursday
- Price is drawing a scaled uptrend since March 2020 with higher tops and higher bottoms. Up to date, price marked a 529.67% profit since the beginning of this rally
- Raymond James posted a neutral rating for Freeport-McMoRan last Friday, with a forecast of $30.00
- Freeport-McMoRan Inc. engages in the mining of mineral properties in North America, South America, and Indonesia.
Should I buy Freeport-McMoRan stock?
Even if you are a experienced or a novel trader, best trading results come from using an investing strategy that never leaves to random or subjective opinions when is the best moment to buy or sell stocks. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Is $FCX stock a buy?
Currently, Freeport-McMoRan stock doesn't match any of these trading strategies, so our recommendation is not to buy now. This doesn't mean we expect a selloff for $FCX in the next few days, or that it may not climb higher. Simply, it doesn't match our recommended trading systems
Should I sell Freeport-McMoRan stock?
Knowing when to sell a stock is even harder than knowing when to buy it. Trading strategies allow us to avoid impetuous decisions based on our personal emotions or the noise surrounding the market. We like very simple strategies to guide us on when is the best moment to sell a stock. Be aware that these strategies are not intended for shorting Freeport-McMoRan stock
A golden rule is that you should not mantain an investment that results in greater losses than those expected upon purchase. The timing to sell your stock should always be determined by the stop-loss (automatic or manual)
Is it time to sell Freeport-McMoRan stock?
In the current situation of Freeport-McMoRan there is not any eligible sell setup, so Freeport-McMoRan stock holders with operations in green can keep their positions
In the last 30 days, 4 ratings were published for Freeport-McMoRan. General sentiment is bullish, with 3 out of 4 publishing positive outlooks
|Jan 5th, 2021|
|Argus|| Neutral → |
|B. Riley|| |
|Jan 13th, 2021|
|Deutsche Bank Aktiengesellschaft|| |
|Jan 15th, 2021|
Freeport-McMoRan stock analysis
Since in March 2020, Freeport-McMoRan has been drawing an uptrend that so far marked a gorgeous 529.67%. During this uptrend, the price gave some buy points on the breakouts. Latest pullback was in mid-December, when price bounced at $23.77. Like in all uptrends, price needs to rest and now price is consolidating the gains in a range between $32.49 and $23.77
Supports and resistances
The current resistance levels are:
The current supports are:
Since the price surpassed the upper band on January 8, the price corrected downwards by 3.22%
Relative strength index
After crossing up the line of 70 yesterday, dropped back below with a reading of 65.58. This is a signal of weakness for the stock and it should raise our awarness of weakness in the price action
Freeport-McMoRan stock price history
Freeport-McMoRan started trading priced at an adjusted price1 of $6.77 on Jul 1995. Since then, FCX stock surged by 348.30%, with an average of 13.93% per year. An investment of thousand dollars at that time would be valued $4,483.01 nowadays.
1: Adjusted price after possible price splits or reverse-splits
Price target for Freeport-McMoRan stock
How much a stock will be priced tomorrow or next week is quite unpredictable. Banks and financial organisations issue their analysis predicting how a stock will performance in the future.
Along with buy or sell recommendations, brokerage institutions publish their price estimates based on the stock price action and the company fundamental data. Most of these forecasts follow the release of new fundamental information by the company, and usually. If you are a small investor you must not invest based on these forecasts.
There are 4 price forecasts issued for Freeport-McMoRan that average $30.75. That is a 1.32% than the last price ($30.35).
|Brokerage firm||Price target|
|Jan 5th, 2021|
|B. Riley||$26.00 → $30.00|
|Jan 13th, 2021|
|Deutsche Bank Aktiengesellschaft||$20.00 → $33.00|
|Jan 15th, 2021|
|Raymond James||$19.00 → $30.00|
Earnings and financials
FCX ($FCX) posts earnings report on Thursday. Forecasted for this quarter is $0.37, compared to $0.29 that was reported for Q3.
Earnings reporting day has a more than usual risk for stock traders as the results posted can gap up or down the price with lower volume and not respecting your buy or stop-loss orders. You can obtain more information about the earnings call and the financial reports on the Investor Relations section of its website: http://fcx.com.
Earnings call was hosted by Freeport-McMoRan ($FCX) last October after posting the financial report. FCX posted earnings of $0.29 per share on revenue of $3.9 billion. The consensus earnings estimate was $0.20 per share on revenue of $3.7 billion.Same quarter one year ago, reported EPS was $-0.01, so recently posted EPS means an improvement of 3,000.00%. Looking at turnover, figures exploded a 22.14% compared to $31.5B same quarter last year.
Please read:The viewpoints given in this post are personal and should not be followed as recommendations for you to buy or sell shares. The author of this text does not have an understanding of the specific circumstances of the reader, his or her own finances or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Viewpoints are published for general educational motives only
|Friday, January 15th, 2021|
|Day range||$30.07 - $31.43|
|Average true range||$1.88|
|50d mov avg||$24.28|
|100d mov avg||$20.33|
|200d mov avg||$15.56|
|Earnings date||January 21st, 2021|