Freeport-McMoRan Inc. (FCX) was reviewed back in September when I said, "The daily bar chart shows support in the $12.50-$11.00 area, so the near-term risk is that FCX declines down to $12.50. Let's see how it behaves around $12.50." With hindsight we can see (chart below) that the bulls on FCX used any dip below $14 to buy and we never saw prices decline to support beginning around $12.50. Prices went soaring in early December and have consolidated those gains this month. With a new quantitative upgrade today to "Buy" by TheStreet's quant service, another look at the charts is definitely in order.
In this daily bar chart of FCX, below, we can see a very strong -- straight-up-rally -- for FCX in December. Prices are above the rising 50-day simple moving average line and the rising 200-day line. The daily On-Balance-Volume (OBV) line has been rising since November and continued to strengthen in January as prices largely went sideways. Buyers of FCX have been more aggressive than sellers suggesting that prices are headed higher. The daily Moving Average Convergence Divergence (MACD) oscillator crossed to a take profits sell signal earlier this month as prices turned sideways.
In this weekly bar chart of FCX, below, we can see a breakout to the upside when prices cleared $17. Prices are above the rising 40-week moving average line. The weekly OBV line shows a slow rise since early 2016. The weekly MACD oscillator is in a bullish mode.
In this Point and Figure chart of FCX, below, we can see a breakout at $17.50 and a new price target of $32.50.

Bottom line: The stars are aligned -- FCX has broken out on the daily chart, the weekly chart, the Point and Figure chart and it has been upgraded by our quantitative service. Aggressive traders could go long FCX here and on strength above $20.50 looking for gains to the low $30's. Risk below $18.