Before the Bell Scans of Freeport-McMoRan, Southern Copper, Rio Tinto, and BHP Billiton
LONDON, March 15, 2013 /PRNewswire/ --
The outlook for copper prices is bullish in 2013. Copper prices are expected to rise this year, driven by an ongoing recovery in the U.S. housing market and a rebound in the Chinese economy. The bullish outlook for copper prices augurs well for companies such as Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX), and Southern Copper Corp. (NYSE: SCCO). Mining giants BHP Billiton Limited (NYSE: BHP) and Rio Tinto Plc (NYSE: RIO) are also expecting a robust year ahead, thanks mainly to a rebound in the Chinese economy. On Thursday, Basic Materials stocks ended mostly higher as the Dow Jones posted its 10th straight higher finish. StockCall has taken an interest in these companies and you can now sign up to download the free technical research on FCX, SCCO, RIO, and BHP at
http://www.stockcall.com/registration
Shares of Freeport-McMoRan Copper & Gold Inc. edged higher yesterday; however, the gains were limited. The stock touched an intra-day high of $33.35 before finishing the day 0.24% higher at $33.16 on volume of 10.97 million. Despite the gains on Thursday, the stock has fallen more than 1.20% in the last three sessions. The mining company's shares have underperformed the broad market this year, falling more than 3%, year-to-date. The stock is currently trading below its 50-day and 200-day moving averages. It is facing stiff resistance at around $33.50. Sign up today to read the free research report on FCX at
http://www.StockCall.com/FCX031513.pdf
Shares of Southern Copper Corp. also posted modest gains in Thursday's trading session. The stock closed 0.11% higher at $37.04. Southern Copper's shares have fallen more than 1.70% in the last three sessions even as the broad market has rallied. The stock has been struggling to break through $38 resistance level. It has support at around $37. Shares of SCCO are currently trading above their 200-day moving average and below their 50-day moving average. The stock's MACD has crossed below the signal line, which is a bearish signal. Year-to-date, the stock has fallen more than 2%. Register to download the free technical analysis on SCCO at
http://www.StockCall.com/SCCO031513.pdf
BHP Billiton Limited's rival Rio Tinto Plc also saw a drop in its shares in trading yesterday. The stock closed 0.84% lower at $49.84, extending its losses in the last three trading sessions to over 3%. Rio Tinto's shares have fallen sharply this year. Year-to-date, the stock is down more than 14%. The stock currently has support at around $49. The company's shares have fallen in four of the last five trading sessions. The stock's MACD is currently trading below the signal line and the zero-line. Register with StockCall and download the research on BHP for free at
http://www.StockCall.com/BHP031513.pdf
BHP Billiton Limited's rival Rio Tinto Plc also saw a drop in its shares in trading yesterday. The stock closed 0.84% lower at $49.84, extending its losses in the last three trading sessions to over 3%. Rio Tinto's shares have fallen sharply this year. Year-to-date, the stock is down more than 14%. The stock currently has support at around $49. The company's shares have fallen in four of the last five trading sessions. The stock's MACD is currently trading below the signal line and the zero-line. Free report on RIO can be accessed by registering at
http://www.StockCall.com/RIO031513.pdf
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