Death Cross Looms Over Freeport-McMoRan Investors
Portfolio Pulse from Benzinga Insights
A death cross has formed on Freeport-McMoRan's (NYSE:FCX) chart, which could be bearish for the stock. The death cross occurs when the 50-day moving average moves below the 200-day moving average, signaling a possible change in the long-term trend.
June 27, 2023 | 2:48 pm
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Freeport-McMoRan's chart shows a death cross, which could indicate a bearish trend for the stock in the short term.
A death cross is a technical indicator that occurs when a stock's 50-day moving average crosses below its 200-day moving average. This is generally considered a bearish signal, as it suggests that the stock's long-term trend may be changing. In the case of Freeport-McMoRan, the formation of a death cross could lead to a decline in the stock's price in the short term.
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