FTI pushes through prior session high

FMC Technologies Inc. (FTI) Technical Analysis Report for Sep 14, 2018

Highlights

FTI fails to close above 50-day moving average
FTI pushes through previous session high
FTI rises to highest close since September 4th
FTI stuck within tight trading range
FTI ends the day indecisive

TQ Sentiment

Report Sentiment: 0% Neutral
Technical Forecast:

Overview

FTI ended the week 4.95% higher at 30.13 after gaining $0.44 (1.48%) today. Today's closing price of 30.13 marks the highest close since September 4th. Closing above Thursday's high at 30.11, the share confirms its breakout through the prior session's high having traded $0.22 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for FTI

Volatility

Friday's trading range was $0.54 (1.8%), that's slightly below last trading month's daily average range of $0.57. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way below average. Prices continued to consolidate within a tight trading range between 29.63 and 30.62 which it has been in now for the last three days.

Support/Resistance

Prices are trading close to a key support level at 29.66. Prices are trading close to the key resistance level at 30.65. After spiking up to 30.33 during the day, FMC Technologies found resistance at the 50-day moving average at 30.28.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Order Flow

Buying might speed up should prices move above the close-by swing high at 30.62 where further buy stops could get triggered. Selling might accelerate should prices move below the nearby swing low at 29.63 where further sell stops could get activated.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for FMC Technologies Inc.

Condition Forecast Direction Win Rate Exit Day Events
Close near low of period TQ Pro Members Only
Bullish Bounce off SMA 20 TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
Bearish Engulfing Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
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