FCX: 18-year big base breakout potential

Freeport-McMoRan (FCX) is breaking higher from a 2008 into 2026 big base. This view remains firmly in place as long as the stock stays above or defends the breakout zone from 55 down to 51. Under this scenario, pushing above the 2010 and 2008 peaks at 61.35-63.62 would increase confidence in the 18-year big base for FCX with upside targets near 73 (100% extension of the early 2016 to early 2022 advance projected from the mid 2022 low) and then 103-106 (1161.8% extension and big base pattern count) on a longer-term basis.

Chart 1: Freeport-McMoRan (FCX): Monthly chart