Freeport-McMoRan Copper & Gold Inc.(FCX) is in an uptrend but could lose its momentum

(29-Apr-2008) (29-Apr-2008) Freeport-McMoRan Copper & Gold Inc.(FCX) closed at 110.72, down -5.08 or -4.39 % today. Based on our analysis, Freeport-McMoRan Copper & Gold Inc.(FCX) is in an uptrend but could lose its momentum.

The closing price of Freeport-McMoRan Copper & Gold Inc.(FCX) is above its 50 day moving average of 103.29 (Designated by blue line). This indicates that the trend is up. The MACD histogram(Gray bars on the bottom) below the signal line(Dark Red Line) tells us that Freeport-McMoRan Copper & Gold Inc.(FCX) is losing momentum. Sustained loss of momentum could put the uptrend at risk. The MACD histogram crossed below the signal line today, let us see if it stays below.