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

By Shiri Gupta

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 $103.73 and $107.55 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.

In the past 52 weeks, shares of Fmc Corp have traded between a low of $70.62 and a high of $108.77 and closed yesterday at $105.14, which is 49% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.5%.

FMC Corp operates as a diversified research company in the chemical industry. The Company offers technology solutions for agricultural, industrial, and consumer markets. FMC Corp offer an array of technologies in research and development to improve delivery of medications, enhance foods and beverages, power batteries, protect crop yields, and advance textile manufacturing.

Based on a current price of $105.14, Fmc Corp is currently 1.1% above its average consensus analyst price target of $104.00. The stock should discover initial support at its 50-day moving average (MA) of $98.91 and subsequent support at its 200-day MA of $87.99.

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