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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 $22.21 and $22.21 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, Technipfmc Plc share prices have been bracketed by a low of $18.20 and a high of $33.60 and are now at $22.21, 22% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.6% 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.

Potential upside of 60.5% exists for Technipfmc Plc, based on a current level of $22.21 and analysts' average consensus price target of $35.64. The stock should run into initial resistance at its 50-day moving average (MA) of $23.45 and subsequent resistance at its 200-day MA of $24.71.

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