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Technipfmc Plc Set to Possibly Rebound After Yesterday's Selloff of 1.98%

By James Quinn

Technipfmc Plc (NYSE:FTI) traded in a range yesterday that spanned from a low of $32.09 to a high of $32.74. Yesterday, the shares fell 2.0%, which took the trading range below the 3-day low of $32.22 on volume of 1.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Technipfmc Plc have traded between a low of $24.53 and a high of $35.00 and are now at $32.14, which is 31% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.4%.

SmarTrend recommended that subscribers consider buying shares of Technipfmc Plc on March 12th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.88. Since that recommendation, shares of Technipfmc Plc have risen 6.1%. 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