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Possible Bearish Inside Day Candle Pattern Detected for Fmc Corp (NYSE:FMC)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Fmc Corp (NYSE:FMC) based on the price action in the company's shares. Yesterday's price range of $82.38 and $83.38 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Fmc Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Fmc Corp share prices have moved between a 52-week high of $92.13 and a 52-week low of $69.36 and closed yesterday at 19% above that low price at $82.45 per share. The 200-day and 50-day moving averages have moved 0.18% higher and 0.26% lower over the past week, respectively.

Potential upside of 26.1% exists for Fmc Corp, based on a current level of $82.45 and analysts' average consensus price target of $104.00. The stock should hit resistance at its 50-day moving average (MA) of $85.79, as well as support at its 200-day MA of $81.64.

FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium.

SmarTrend is monitoring the recent change of momentum in Fmc Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Fmc Corp in search of a potential trend change.

Keywords: bearish am inside day candle fmc corp

Ticker(s): FMC