Freeport-McMoRan Inc. Stock Forecast
Freeport-McMoRan Inc. stock price ended at 45.69€ on Friday, after gaining 0.87%.
(Updated on Jun 28, 2024)
The Freeport-McMoRan Inc. stock price gained 0.87% on the last trading day (Friday, 28th Jun 2024), rising from 45.29€ to 45.69€. During the last trading day the stock fluctuated 1.46% from a day low at 45.47€ to a day high of 46.13€. The price has been going up and down for this period, and there has been a 2.04% gain for the last 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 5 thousand shares were bought and sold for approximately 212.44€ thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Freeport-McMoRan Inc. stock with a 90% probability to be traded between 43.28€ and 49.62€ at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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FPMB.F Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 4.15%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Freeport-McMoRan Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at 45.99€ and 46.93€. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Freeport-McMoRan Inc. stock
Freeport-McMoRan Inc. finds support from accumulated volume at 45.29€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved 0.665€ between high and low, or 1.46%. For the last week the stock has had daily average volatility of 1.97%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FPMB.F) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Freeport-McMoRan Inc. to open at 45.76€, and during the day (based on 14 day Average True Range), to move between 44.45€ and 46.92€, which gives a possible trading interval of +/-1.23€ (+/-2.70%) up or down from last closing price. If Freeport-McMoRan Inc. takes out the full calculated possible swing range there will be an estimated 5.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 45.29€ (0.86%) than the resistance at 46.87€ (2.59%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Freeport-McMoRan Inc. stock A Buy?
Freeport-McMoRan Inc. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.496 Sell Candidate Unchanged
Predicted Opening Price for Freeport-McMoRan Inc. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| 45.76€ ( 0.164%) | 45.69€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FPMB.F
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 46.43 | 1.62% |
| R2 | 46.17 | 1.06% |
| R1 | 46.01 | 0.720% |
| Price | 45.69 | |
| S1 | 45.51 | -0.392% |
| S2 | 45.35 | -0.735% |
| S3 | 45.10 | -1.29% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 50.46 | 10.45% |
| R2 | 47.63 | 4.26% |
| R1 | 46.87 | 2.59% |
| Price | 45.69 | |
| S1 | 45.29 | -0.86% |
| S2 | 44.58 | -2.43% |
| S3 | 43.87 | -3.98% |
FPMB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 15, 2024 | Jul 15, 2024 | Jul 15, 2024 | 0€ | 0% |
| 2 | Apr 12, 2024 | Apr 12, 2024 | May 01, 2024 | 0.139€ | 0% |
| 3 | Jan 11, 2024 | Jan 11, 2024 | Feb 01, 2024 | 0.150€ | 0% |
| 4 | Oct 12, 2023 | Oct 12, 2023 | Nov 01, 2023 | 0.150€ | 0% |
| 5 | Jul 13, 2023 | Jul 13, 2023 | Jul 13, 2023 | 0.150€ | 0% |
FAQ
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