Freeport-McMoRan's most recent trend suggests a bullish bias. One trading opportunity on Freeport-McMoRan is a Bull Put Spread using a strike $35.50 short put and a strike $30.00 long put offers a potential 17.77% return on risk over the next 13 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $35.50 by expiration. The full premium credit of $0.83 would be kept by the premium seller. The risk of $4.67 would be incurred if the stock dropped below the $30.00 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 42.6 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
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Tue, 31 Aug 2021 11:49:57 +0000
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Mon, 30 Aug 2021 17:26:14 +0000
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Sat, 28 Aug 2021 00:52:00 +0000
While prices for industrial metals like copper and iron ore have been weaker, Chris LaFemina, a mining analyst at Jefferies, is upbeat on the sector. Among diversified miners, BHP (ticker: BHP), at $66, is down 20% from its peak; Rio Tinto (RIO) is off 19%, to $75; Anglo American (NGLOY) is off 13%, to $21; and Freeport-McMoRan (FCX), a global copper producer, is down 21% from its peak to $36. Copper prices, down about 10% from their spring peak, to $4.33 a pound, have held up better than iron ore, which is off 40% from its high, to $145 a ton.
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