After Yesterday's Rally of 2.80% Shares Could Potentially Pullback
FMC (NYSE:FMC) traded in a range yesterday that spanned from a low of $46.40 to a high of $47.95. Yesterday, the shares gained 2.8%, which took the trading range above the 3-day high of $47.21 on volume of 1.1 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 FMC have traded between a low of $32.24 and a high of $61.11 and are now at $47.85, which is 48% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.9%.
SmarTrend recommended that subscribers consider buying shares of FMC on April 19th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $41.00. Since that recommendation, shares of FMC have risen 13.4%. We continue to monitor FMC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.