Freeport-McMoRan Copper & Gold (FCX)

This company is reacting to news.

Freeport-McMoRan (FCX) Will Bounce Like It Has Done Every Time in the Past – Credit Suisse
Credit Suisse reiterated its Outperform rating and $75 price target on Freeport-McMoRan (NYSE: FCX) today and called the recent decline in the shares an “overreaction.”

Watch the relative momentum chart closely. RMI indicator red shows underperformance vs. SPX.

FCX is trading below its 50DMA. Will bulls find resistance up there?

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