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

By David Diaz

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.

Technipfmc Plc share prices have moved between a 52-week high of $32.91 and a 52-week low of $18.20 and are now trading 42% above that low price at $25.78 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.2%.

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