FTI stuck within tight trading range

TechnipFMC plc (FTI) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team


FTI finds buyers around 32.02 for the third day in a row
FTI stuck within tight trading range
FTI closes within previous day's range after lackluster session
FTI ends the day indecisive


FTI finished Monday at 32.36 edging lower $0.02 (-0.06%). Closing within the prior day's range, prices failed to decisively move beyond the previous 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 (FTI as at Apr 16, 2018):

Daily technical analysis candlestick chart for TechnipFMC plc (FTI) as at Apr 16, 2018

Monday's trading range was $0.66 (2.04%), that's below last trading month's daily average range of $0.88. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being above average. Prices continued to consolidate within a tight trading range between 32.02 and 32.68 which it has been in now for the last three days.

Prices are trading close to a key support level at 31.93. Prices are trading close to the key resistance level at 33.02. The market found buyers again today around 32.02 for the third trading day in a row after having found demand at 32.13 in the prior session and at 32.09 two days ago.

The stock shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Trading close to February's high at 33.24 we could see further upside momentum if potential buy stops at the level get activated.

Market Conditions for FTI as at Apr 16, 2018

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