On Monday, Freeport-McMoRan got an upgrade to its Relative Strength (RS) Rating, from 70 to 75.
As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.
This proprietary rating identifies market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the top-performing stocks tend to have an RS Rating north of 80 as they begin their biggest climbs. See if Freeport-McMoRan can continue to show renewed price strength and clear that threshold.
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Freeport-McMoRan is building a consolidation with a 46.73 buy point. It has been struggling to move past and stay above key moving averages. We need to wait and see if it can break out in volume at least 40% above average.
Freeport-McMoRan reported negative growth for both the top and bottom lines last quarter. Freeport-McMoRan is expected to report its next quarterly numbers on or around Jul. 20.
Freeport-McMoRan holds the No. 19 rank among its peers in the Mining-Metal Ores industry group. Ero Copper and Southern Copper are also among the group's highest-rated stocks.
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