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After Yesterday's Rally of 1.33% Shares Could Potentially Pullback

By James Quinn

Technipfmc Plc (NYSE:FTI) traded in a range yesterday that spanned from a low of $24.94 to a high of $26.70. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $25.95 on volume of 3.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Technipfmc Plc have traded between a low of $18.20 and a high of $32.91 and are now at $25.78, which is 42% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Technipfmc Plc on August 29th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $24.75. Since that recommendation, shares of Technipfmc Plc have risen 3.0%. We continue to monitor FTI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders technipfmc plc

Ticker(s): FTI