Freeport-McMoran, Inc. (FCX) Stock Forecast

summary

Our short-to-medium term technical scorecards remain largely bullish for key indicators. For the S&P 500 (SPX), the 5-day/13-day and 8-day/21-day Exponential Moving Average (EMA) crossovers are bullish. The vortex indicator and the 21-day rate of change (ROC) are in bullish territory. And Chande Trend Meter (CTM) has improved, but slightly positive. Everyday momentum is still bullish and there was no damage to the charts during the recent pullback. Some measurements of SPX’s market width are either neutral or slightly positive. About 59% of stocks in the index are above the 200-day average, while the bullish percentage index is only 55%. For the S&P 100 (OEX), 66% of stocks are above the 200-day average. For Nasdaq 100, reading is 62%. All of these measures have been on the downtrend since late September. As we move deeper into 2025, we hope that they will be improved to give us more confidence. So far, the stock market has rocked a lot of nasty news, but concerns remain and could quickly reappear as evidenced by Friday’s price action. The issue of Deepseek AI seems to be old news, but the impact of tariffs is a continuing debate. With BUL