Savvy Trades and Investments

[SSKILLZ1]

FCX

Well the stock is overbought. The RSI is 78, and the macd is starting to go parabolic. About a little less than a year ago this time we topped a little over $17, if it can sustain closing over $17.06 that would mean breakout to further highs, at the very least even if that was going to happen you would think there would be some kind of consolidation here first though, the stock is waaaaaaaaaaaaaaaaaaaaaaaaay overbought. Don't know anything about the fundies of the company so couldn't tell you if the move is actually justified or not, but you asked for just my opinion on the chart, so here it is. It is overbought, but it is threatening now to break out, but you have to figure there is gonna be some resistance here especially with how overbought it is. Time will tell. All is just my opinion, and I could always be wrong though.