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

By Nick Russo

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 $23.10 and $23.36 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.

In the past 52 weeks, shares of Technipfmc Plc have traded between a low of $18.20 and a high of $34.17 and are now at $23.19, which is 27% above that low price. The 200-day and 50-day moving averages have moved 0.54% lower and 0.41% higher over the past week, respectively.

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

Technipfmc Plc (NYSE:FTI) has potential upside of 53.7% based on a current price of $23.19 and analysts' consensus price target of $35.64. The stock should find initial resistance at its 50-day moving average (MA) of $23.71 and further resistance at its 200-day MA of $25.15.

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

Keywords: bearish inside day candle technipfmc plc

Ticker(s): FTI