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Actionable news in FCX: FreePORT-MCMORAN Inc,

This beaten stock could rally 50%: Technician

One of Wall Street's most unloved stocks could be presenting a rare buying opportunity.

Freeport-McMoRan is the second-worst performing name in the S&P 500 in the past 12 months, down nearly 70 percent as the company has been plagued by the collapse in commodity prices and uncertainty on the overall health of the global economy.

But as Freeport-McMoRan has sparked the interest of billionaire investor Carl Icahn, who disclosed an 8.5 percent (88 million shares) stake in the company just last week, and copper prices have rallied to seven-week highs, one technician says now could mark a turning point for the charts.

"There could be...