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Freeport McMoRan Stock Pops With Rising Relative Price Strength

On Tuesday, Freeport McMoRan (FCX) earned a positive adjustment to its Relative Strength (RS) Rating, from 78 to 82.




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When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.

This unique rating identifies technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock’s price action over the last 52 weeks matches up against that of all other stocks.

Decades of market research shows that the best stocks typically have an RS Rating of over 80 as they launch their biggest price moves.


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Freeport McMoRan stock broke out earlier, but has fallen back below the prior 39.77 entry from a cup with handle. If a stock you’re tracking clears a buy point then declines 7% or more below the original entry price, it’s considered a failed base. Normally we would wait for the stock to set up and breakout from a new base and buy point. Still, might be worth a watchlist entry.

Freeport McMoRan stock posted 207% earnings growth in the latest quarterly report, while sales growth came in at 58%.

The company earns the No. 3 rank among its peers in the Mining-Metal Ores industry group. M P Materials (MP) is also among the group’s highest-rated stocks.

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