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

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Fmc Corp (NYSE:FMC) based on the price action in the company's shares. Yesterday's price range of $98.46 and $99.69 is within the prior day'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. Traders and investors interested in shares of Fmc Corp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, Fmc Corp has traded in a range of $69.36 to $101.95 and closed yesterday at $99.04, 43% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 2.1%.

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 has overhead space with shares priced $99.04, or 4.8% below the average consensus analyst price target of $104.00. The stock should discover initial support at its 50-day moving average (MA) of $93.98 and subsequent support at its 200-day MA of $84.69.

SmarTrend recommended that subscribers consider buying shares of Fmc Corp on October 28th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $84.29. Since that recommendation, shares of Fmc Corp have risen 17.5%. We continue to monitor FMC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle fmc corp

Ticker(s): FMC