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Possible Bearish Inside Day Candle Pattern Detected for Fmc Corp (NYSE:FMC)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Fmc Corp (NYSE:FMC) based on the price action in the company's shares. Today's price range of $87.37 and $89.66 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Fmc Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Fmc Corp share prices have moved between a 52-week high of $108.77 and a 52-week low of $56.77 and are now trading 52% above that low price at $86.53 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.1% while the 200-day MA has remained constant.

FMC Corp operates as a diversified research company in the chemical industry. The Company offers technology solutions for agricultural, industrial, and consumer markets. FMC Corp offer an array of technologies in research and development to improve delivery of medications, enhance foods and beverages, power batteries, protect crop yields, and advance textile manufacturing.

Fmc Corp (NYSE:FMC) has potential upside of 20.2% based on a current price of $86.53 and analysts' consensus price target of $104.00. The stock should find initial resistance at its 50-day moving average (MA) of $88.76 and further resistance at its 200-day MA of $90.00.

SmarTrend is monitoring the recent change of momentum in Fmc Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Fmc Corp in search of a potential trend change.

Keywords: bearish inside day candle fmc corp

Ticker(s): FMC