• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Technipfmc Plc (NYSE:FTI)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Technipfmc Plc (NYSE:FTI) based on the price action in the company's shares. Today's price range of $23.68 and $23.72 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 Technipfmc Plc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Technipfmc Plc (NYSE:FTI) has potential upside of 50.5% based on a current price of $23.68 and analysts' consensus price target of $35.64. Technipfmc Plc shares should encounter resistance at the 200-day moving average (MA) of $26.77 and support at the 50-day MA of $22.81.

Technipfmc Plc share prices have moved between a 52-week high of $34.39 and a 52-week low of $18.20 and are now trading 30% above that low price at $23.68 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has slid 0.5%.

TechnipFMC plc provides oilfield services. The Company offers subsea, surface, onshore, and offshore solutions for oil and gas projects. TechnipFMC serves customers worldwide.

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

Keywords: bearish inside day candle technipfmc plc

Ticker(s): FTI