Thursday, 7 August 2014

FCX - still on the slide

With the broader market seeing further moderate weakness, Freeport McMoran (FCX) was also weak, settling lower by -1.5% @ $36.14. Near term outlook is for renewed upside.. along with the broader market.



Suffice to say... its been a bit of a rough few weeks for FCX, having slipped from $39.05 to the low 36s... a drop of around 8% - around twice the main market fall since sp'1991.

Overall though, FCX should hold the broader rising the mid $35s.