FTI closes within previous day's range after lackluster session
TechnipFMC plc (FTI) Technical Analysis Report for Jun 30, 2020 | by Techniquant Editorial Team
FTI finished the month -7.57% lower at 6.84 after edging higher $0.04 (0.59%) today, underperforming the S&P 500 (1.54%). Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.
Daily Candlestick Chart (FTI as at Jun 30, 2020):
Tuesday's trading range has been $0.30 (4.39%), that's far below the last trading month's daily average range of $0.46. Weekly volatility is also lower, being below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for FTI.
Two candlestick patterns are matching today's price action, the Southern Doji which is known as bullish pattern and one neutral pattern, the Doji. The last time a Doji showed up on June 18th, FTI lost -3.45% on the following trading day.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Further selling might move prices lower should the market test May's close-by low at 6.23.