Freeport-McMoRan (FCX) Offering Possible 10.86% Return Over the Next 7 Calendar Days

Freeport-McMoRan's most recent trend suggests a bullish bias. One trading opportunity on Freeport-McMoRan is a Bull Put Spread using a strike $42.00 short put and a strike $37.00 long put offers a potential 10.86% return on risk over the next 7 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $42.00 by expiration. The full premium credit of $0.49 would be kept by the premium seller. The risk of $4.51 would be incurred if the stock dropped below the $37.00 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Freeport-McMoRan is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Freeport-McMoRan is bullish.

The RSI indicator is at 71.64 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here

LATEST NEWS for Freeport-McMoRan

Here Are 5 Relative Price Strength Stocks That Could Win Big
Wed, 12 May 2021 12:06:12 +0000
Suncor Energy (SU), Ally Financial (ALLY), CNH Industrial (CNHI), Freeport-McMoRan (FCX) and Red Rock Resorts (RRR) are five stocks with explosive relative price strength.

New Strong Buy Stocks for May 11th
Tue, 11 May 2021 15:41:03 +0000
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Dow Jones Today Rides Commodities Rally To New High, Nasdaq Lags; Freeport Jumps, BioNTech Spikes On Asia Deal
Mon, 10 May 2021 14:00:29 +0000
Freeport-McMoRan and BioNTech were early leaders, and Chevron topped the Dow as stocks hammered out a mixed open on Monday.

I'm Currently Long Freeport-McMoRan: Here Are My Trade Thoughts
Mon, 10 May 2021 11:08:00 +0000
This is not the highest that Freeport-McMoRan has ever traded. Funny, because Copper trading on the London Metals Exchange traded as high as $10,747 per metric ton earlier this (Monday) morning, after besting the previous record high of $10,190 per metric ton (which was set in 2011) on Friday. As recently as mid-April, Goldman Sachs had predicted that copper prices in London would hit $15K/ton by the year 2025.

Wall Street Opens Mixed, Led by Energy: Dow up, Nasdaq Down
Mon, 10 May 2021 09:44:46 +0000
By Geoffrey Smith

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