FTI stuck within tight trading range


FMC Technologies Inc. (FTI) Technical Analysis Report for Apr 16, 2018 [< 1 min read]
Highlights
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
TQ Sentiment
Report Sentiment: 33% Bullish
Technical Forecast:
Overview

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 chart for FTI
Volatility

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.

Support/Resistance

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.

Trend

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

Order Flow

Trading close to February's high at 33.24 we could see further upside momentum if potential buy stops at the level 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.
ConditionForecastDirectionWinAvgWorstBestEvents
Close near low of period TQ Pro Members Only
Bearish Bounce off SMA 200 TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
High close to previous High TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
More market conditions identified for TQ Pro members...
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