After a weak performance, experts from JPMorgan see positive signs of a recreational course of a share from the raw material area, which was recently moved in from the investor focus.
• Copper share Freeport-McMoran last lost
• Analysts now see opportunities for relaxation
• Trump trade policy and rising AI investments could ensure higher copper prices
In May last year, investors from Freeport-McMoran were able to look forward to new record stands on the stock exchange: the share certificate on the NYSE had been able to get up to $ 54.52. However, disillusionment followed the all -time high, especially in the past three months, strong sales had massively burdened the share certificate and had the share price collected by around 15 percent. At a recent level of $ 36.77, JPMorgan experts now see potential for entry again.
Freeport-McMoran share victims of larger developments
The weakness of the Freeport-McMoran share has a lot to do with the fact that investors have recently rotated their investments increasingly away from US titles and from foreign markets such as Europe, “Marketwatch” quotes the US bank’s technical team. The background to these developments is uncertainties about the consequences of the commercial and geopolitical policy of the new Trump government on the US economy, it is said.
However, it shows that the development of freeport shares historically focuses on the development of copper prices than on the wide US market. In the past, there have also been opposing developments in the past, but these were usually not permanent and the clearer price exposure had been held in the direction of copper price development. There is therefore no reason to assume that Freeport’s share does not correlate again with copper, or that the rally of copper ends, “Marketwatch” continues.
Profitors of Trump politics and AI investments
The head of Freeport-McMoran also shares this assessment: As part of the BMO Global Metals, MINING & Critical Minerals Conference, Kathleen Quirk emphasized that Freeport was more likely to benefit from the fact that Donald Trump’s trading policy, which is imported into the USA. Freeport is not forced to import large amounts of copper to the USA in order to meet customer requirements, according to the company boss with a view to the fact that one of two US copper huts is in the hands of Freeport. “From now on, this premium of the US copper from this perspective will help us achieve higher income with our copper traded in the USA,” says “Marketwatch” the top manager.
In addition, your company also benefits from massive AI investments that tech companies currently do. The structure of AI infrastructure and AI technology requires a lot of electricity and “very significant amounts of copper in all these data centers”.
Experts see Bullish’s reverse pattern
In addition to these positive developments, the FREPORT business also see the JPMorgan experts on the basis of a chart technology recovery potential for the share. “A breakthrough through the nearby 50-day average” will pave the way for testing “of the resistance of $ 41.05 to $ 41.27,” said the experts. The sliding 50-day average is viewed by many as a short-term trend tracker, and previous crosses have often triggered further profits and losses. According to TradingView, this line is 36.49.
If the share can leave this resistance area, JPmorgan sees the level of $ 45.60 as the “minimum goal” for bulls.
Editor finance.net
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