(FCX) These two stocks continue to hit new highs – Charting Zacks Elite Stocks

October 9th, 2009

Freeport McMoran Copper & Gold Inc. (FCX) took a hit with the overall market in the big sell off of late 2008 and early 2009, but shares have since recovered nicely and posted big gains after bottoming out in early March. More recently shares have been pressuring an area of resistance from about a year ago at the $75 mark. If shares are rejected the trend line higher that began in early March should provide support, take a look below.

Schweitzer-Mauduit International Inc. (SWM) recently hit another new 52-week and all-time high, breaking past a key level of short-term resistance just above $57. Shares have been advancing along a fairly aggressive trend line since gapping open higher in early August on a solid earnings surprise. The MACD signal is also looking bullish, with the short-term moving average in position to advance beyond its long-term counterpart. Take a look below.

Zacks Investment Research
View original at: Zacks.com News Feed

More on this topic (What's this?)
Freeport-McMoRan Is Off to the Races (Contrarian Profits, 8/6/09)
Sold FCX September 55 Naked Puts (My Trader's Journal, 8/14/09)
September 2009 Options Expiration (My Trader's Journal, 9/18/09)
Watch that Dollar (weekly) (Erik's market view, 12/6/09)
Read more on Freeport-McMoRan Copper & Gold at Wikinvest

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