FMC Technologies Falls 1.30% on Heavy Volume: Watch For Potential Rebound
FMC Technologies (NYSE:FTI) traded in a range yesterday that spanned from a low of $31.00 to a high of $31.95. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $31.24 on volume of 1.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
SmarTrend recommended that subscribers consider buying shares of FMC Technologies on August 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.96. Since that recommendation, shares of FMC Technologies have risen 16.6%. We continue to monitor FTI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
FMC Technologies share prices have moved between a 52-week high of $44.28 and a 52-week low of $22.30 and are now trading 39% above that low price at $31.05 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has slid 0.5%.
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