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FMC Technologies Set to Possibly Rebound After Yesterday's Selloff of 1.07%

By Nick Russo

FMC Technologies (NYSE:FTI) traded in a range yesterday that spanned from a low of $31.18 to a high of $31.52. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $31.25 on volume of 2.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, FMC Technologies has traded in a range of $22.30 to $44.28 and is now at $31.36, 41% above that low. 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%.

SmarTrend is tracking the current trend status for FMC Technologies and will alert subscribers who have FTI in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders FMC Technologies

Ticker(s): FTI