FREEPORT-MCMORAN INC. - 1H - Technical analysis published on 05/17/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
78%
6%
17%
My opinion
Bullish above 53.13 USD
My targets
54.08 USD (+0.63%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on FREEPORT-MCMORAN INC. as long as the price remains well above 53.13 USD. The buyers' bullish objective is set at 54.08 USD. A bullish break in this resistance would boost the bullish momentum. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.4
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
FREEPORT-MCMORAN INC. rating 53.74 USD. The price registered an increase of +3.27% on the session and was between 52.54 USD and 53.90 USD. This implies that the price is at +2.28% from its lowest and at -0.30% from its highest.52.54
53.90
53.74
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
New HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of FREEPORT-MCMORAN INC. indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
Price
S3 | S2 | S1 | Price | R1 | |
---|---|---|---|---|---|
ProTrendLines | 51.49 | 52.41 | 53.13 | 53.74 | 54.08 |
Change (%) | -4.19% | -2.47% | -1.14% | - | +0.63% |
Change | -2.25 | -1.33 | -0.61 | - | +0.34 |
Level | Intermediate | Major | Minor | - | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 49.13 | 50.51 | 51.28 | 52.66 | 53.43 | 54.81 | 55.58 |
Camarilla | 51.45 | 51.65 | 51.84 | 52.04 | 52.24 | 52.43 | 52.63 |
Woodie | 48.82 | 50.36 | 50.97 | 52.51 | 53.12 | 54.66 | 55.27 |
Fibonacci | 50.51 | 51.34 | 51.84 | 52.66 | 53.49 | 53.99 | 54.81 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 47.43 | 48.42 | 50.01 | 51.00 | 52.59 | 53.58 | 55.17 |
Camarilla | 50.88 | 51.12 | 51.35 | 51.59 | 51.83 | 52.06 | 52.30 |
Woodie | 47.72 | 48.57 | 50.30 | 51.15 | 52.88 | 53.73 | 55.46 |
Fibonacci | 48.42 | 49.41 | 50.02 | 51.00 | 51.99 | 52.60 | 53.58 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 41.77 | 44.43 | 47.19 | 49.85 | 52.61 | 55.27 | 58.03 |
Camarilla | 48.45 | 48.95 | 49.44 | 49.94 | 50.44 | 50.93 | 51.43 |
Woodie | 41.81 | 44.46 | 47.23 | 49.88 | 52.65 | 55.30 | 58.07 |
Fibonacci | 44.43 | 46.50 | 47.78 | 49.85 | 51.92 | 53.20 | 55.27 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
RSI (14): | 61.57 | |
MACD (12,26,9): | 0.3100 | |
Directional Movement: | 9.73 | |
AROON (14): | -42.86 | |
DEMA (21): | 53.42 | |
Parabolic SAR (0,02-0,02-0,2): | 52.10 | |
Elder Ray (13): | 0.52 | |
Super Trend (3,10): | 52.17 | |
Zig ZAG (10): | 53.80 | |
VORTEX (21): | 1.0300 | |
Stochastique (14,3,5): | 82.67 | |
TEMA (21): | 53.39 | |
Williams %R (14): | -11.24 | |
Chande Momentum Oscillator (20): | 0.19 | |
Repulse (5,40,3): | 0.7700 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.0700 | |
Courbe Coppock: | 0.55 |
MA7: | 52.51 | |
MA20: | 50.82 | |
MA50: | 48.43 | |
MA100: | 43.91 | |
MAexp7: | 53.36 | |
MAexp20: | 53.01 | |
MAexp50: | 52.36 | |
MAexp100: | 51.56 | |
Price / MA7: | +2.34% | |
Price / MA20: | +5.75% | |
Price / MA50: | +10.96% | |
Price / MA100: | +22.39% | |
Price / MAexp7: | +0.71% | |
Price / MAexp20: | +1.38% | |
Price / MAexp50: | +2.64% | |
Price / MAexp100: | +4.23% |
Quotes :
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15 min delayed data
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NYSE Stocks
News
Don't forget to follow the news on FREEPORT-MCMORAN INC.. At the time of publication of this analysis, the latest news was as follows:
- Freeport-McMoRan Investigating Cybersecurity Incident
- Freeport-McMoRan Second-Quarter 2023 Financial and Operating Results Release Available on Its Website
- Freeport-McMoRan Declares Quarterly Cash Dividends on Common Stock
- Freeport-McMoRan First-Quarter 2023 Financial and Operating Results Release Available on Its Website
- Freeport-McMoRan Publishes 2022 Annual Report on Sustainability
This member declared not having a position on this financial instrument or a related financial instrument.
About author
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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