Freeport-McMoRan Reaches Our Price Target: What to Do Now A subscriber asks for an update on FCX. Stocks quotes in this article: FCX
Back on Dec. 21 we looked at the charts of Freeport-McMoRan (FCX) and recommended, If you want some exposure to copper prices without the futures market volatility you could go long FCX at current levels risking to $21. The $35-$40 area is our target.
Shares of FCX touched $39.10 Monday so one Real Money subscriber asked for an update. Let s check.
In this daily bar chart of FCX, below, we can see how the shares have rallied in the past two months. Even with a pullback to our recommended entry level in late January, prices subsequently roared ahead to new heights. The shares are trading above the rising 50-day moving average line and above the rising 200-day moving average line.
Bitcoin’s gains have been fueled by signs it is gaining acceptance among mainstream investors and companies, from Tesla Inc and Mastercard Inc to BNY Mellon