Want to know Freeport-McMoran’s current price and what’s next for FCX stock? On this page, we share the latest Freeport McMoRan news and share buying tips. You can also view the latest Freeport-McMoran Forecast for 2022 and 2023 from our experts.
Should You Buy or Sell Freeport McMoRan Shares Today? To what levels can the shares of this company rise in a year, two, three? How much will Freeport McMoRan be worth in 2021, 2022, 2023? We have been making currency rate forecasts for a long time, and we can also predict the behavior of the stock market using technical analysis and simple indicators.
We also take into account the technical, fundamental analysis of stocks, the news background, the general geopolitical situation in the world and other, smaller factors. The stock forecasts include target levels for FCX shares, both up and likely down.
Freeport-McMoran Forecast for 2022 and 2023
Quotes of Freeport-McMoran continue to move within the framework of the correction and the formation of the bullish “Flag” model. The moving averages point to a short-term bearish trend in FCX stock. Prices are testing the area between the signal lines, which indicates pressure from sellers of securities and a likely continuation of the fall in the near future. At the time of publication of the forecast, Freeport-McMoran’s share price is 35.89 per share. As part of the forecast, we should expect an attempt to develop a small correction and a test of the support level near the area of 32.55. Further, the price bounces up and the continued rise in the value of securities. The potential target of such a movement in shares is the area above the level of 60.05 already in 2021, 2022, 2023.
An additional signal in favor of the growth of Freeport-McMoran quotes will be a test of the trend line on the relative strength index (RSI), now there is a rebound from the resistance line, so buying shares looks risky. The second signal will be a rebound from the lower border of the rising channel. Cancellation of the option to raise the price of Freeport-McMoran shares will be a fall and a breakdown of the level of 26.05. This will indicate a breakdown of the support area, in which case we can consider the continuation of the decline in securities to the area at the level of 15.05. It is worth waiting for confirmation of the rise in shares with a breakdown of the resistance area and closing above the level of 40.05, which will indicate the completion of the bullish “Flag” pattern.
Freeport-McMoran Forecast for 2022 and 2023 suggests an attempt to develop a decline and test the support area near the level of 32.55. Where should we expect a rebound and an attempt to continue the rise of shares in the area above the level of 60.05. In favor of the growth of securities, a test of the trend line on the relative strength index (RSI) will come out. Cancellation of the FCX rise option will be a fall and a breakdown of the level of 26.05. This will indicate a breakdown of the lower border of the channel and a continuation of the fall in value to the area below the level of 15.05.
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