FMC runs into sellers around 80.94 for the third day in a row

FMC Corporation (FMC) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team


FMC runs into sellers around 80.94 for the third day in a row
FMC finds buyers at key support level
FMC closes higher for the 3rd day in a row
FMC rises to highest close since March 19th
FMC stuck within tight trading range


Moving higher for the 3rd day in a row, FMC ended Monday at 80.62 edging higher $0.29 (0.36%) on low volume. Today's closing price of 80.62 marks the highest close since March 19th. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (FMC as at Apr 16, 2018):

Daily technical analysis candlestick chart for FMC Corporation (FMC) as at Apr 16, 2018

Monday's trading range was $1.17 (1.45%), that's far below last trading month's daily average range of $2.05. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 79.51 and 80.94 which it has been in now for the last three days.

In a volatile session, prices traded above the previous day's high as well as below the prior day's low, forming a bearish Outside Bar.

After trading as low as 79.77 during the day, the share bounced off the key support level at 80.39. The failure to close below the support might increase that levels importance as support going forward. The market ran into sellers again today around 80.94 for the third trading day in a row after having found sellers at 80.78 in the previous session and at 80.93 two days ago.

Though the stock is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.

Market Conditions for FMC as at Apr 16, 2018

Loading Market Conditions for FMC (FMC Corporation)...
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when FMC Corporation traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!