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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. Today's price range of $78.60 and $78.60 is within yesterday'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, Fmc Corp share prices have been bracketed by a low of $69.36 and a high of $92.95 and are now at $78.60, 13% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.1% while the 200-day MA has slid 0.2%.

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.

Fmc Corp has overhead space with shares priced $78.60, or 24.4% below the average consensus analyst price target of $104.00. The stock should run into initial resistance at its 50-day moving average (MA) of $78.83 and subsequent resistance at its 200-day MA of $81.93.

SmarTrend is tracking the current trend status for Fmc Corp and will alert subscribers who have FMC in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle fmc corp

Ticker(s): FMC