Market Overview

Freeport-McMoRan Up 8.3% Since SmarTrend Uptrend Call (FCX)

(via COMTEX News Network)--

SmarTrend identified an Uptrend for Freeport-McMoRan (NYSE: FCX) on March 17, 2011 at $51.86. In approximately 3 weeks, Freeport-McMoRan has returned 8.3% as of today's recent price of $56.14.

In the past 52 weeks, shares of Freeport-McMoRan have traded between a low of $28.36 and a high of $61.35 and are now at $56.14, which is 98% above that low price.

Freeport-McMoRan is currently above its 50-day moving average of $53.22 and above its 200-day moving average of $46.79. Look for these moving averages to climb to confirm the company's upward momentum.

In the last five trading sessions, the 50-day MA has fallen 0.61% while the 200-day MA has risen 1.18%.

SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any shifts in the trajectory of Freeport-McMoRan shares.

Write to Chip Brian at cbrian@mysmartrend.com

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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.mysmartrend.com

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