FCX stock price trading down in the very early premarket
note approx. $50-54 horizontal zone in the daily/weekly charts.
$54.95 to $55.08 are the two intraday lows from Oct 13 to last week's low on Friday of 54.95...Oct 12th low was $52.93 (unadjusted for the $.313 dividend).
$55 horizontal area is an area of chart significance, based on the long-term chart history.
Sunday news -
PD trading up to $120 in the premarket on Monday.
Freeport-McMoRan valued its offer for PD at $126.46 per share, well above the $95.02 closing price for Phelps Dodge shares in Friday trading on the New York Stock Exchange.
http://money.cnn.com...rce=yahoo_quote
flexibility exists for some analyst rating changes for FCX:
UPGRADES & DOWNGRADES HISTORY
Date Research Firm Action From To
6-Oct-06 Prudential Upgrade Neutral Overweight
5-Sep-06 Citigroup Upgrade Hold Buy
19-Jul-06 Prudential Upgrade Underweight Neutral
10-Jul-06 Canaccord Adams Upgrade Hold Buy
2-Jun-06 BMO Nesbitt Burns Upgrade Market Perform Outperform
1-Jun-06 Rochdale Securities Upgrade Hold Buy
30-May-06 RBC Capital Mkts Upgrade Sector Perform Outperform
28-Apr-06 UBS Upgrade Neutral Buy
21-Apr-06 Prudential Downgrade Neutral Underweight
7-Apr-06 RBC Capital Mkts Initiated Sector Perform
Edited by hiker, 20 November 2006 - 08:04 AM.
