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Possible Bullish Inside Day Candle Pattern Detected for Technipfmc Plc (NYSE:FTI)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Technipfmc Plc (NYSE:FTI) based on the price action in the company's shares. Yesterday's price range of $20.52 and $20.63 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 Technipfmc Plc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

TechnipFMC plc provides oilfield services. The Company offers subsea, surface, onshore, and offshore solutions for oil and gas projects. TechnipFMC serves customers worldwide.

Technipfmc Plc (NYSE:FTI) has potential upside of 49.9% based on a current price of $20.85 and analysts' consensus price target of $31.26. Technipfmc Plc shares should encounter resistance at the 200-day moving average (MA) of $23.11 and support at the 50-day MA of $20.12.

In the past 52 weeks, shares of Technipfmc Plc have traded between a low of $18.42 and a high of $28.57 and closed yesterday at $20.85, which is 13% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has slid 0.2%.

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

Keywords: bullish am inside day candle technipfmc plc

Ticker(s): FTI