Reference Points for FMC Technologies

Published on Thursday, 09 February 2012 06:56 Written by TradersHuddle Wire

New York, February 9th (TradersHuddle.com) - Shares of FMC Technologies, Inc. (NYSE:FTI) closed the trading day at $54.08 close to its 50 day moving average currently set at $51.86. FMC's price action is just above this important support level translating into a trading opportunity.

FMC Technologies, Inc. (NYSE:FTI) designs and manufactures systems and products used in deep water exploration and production of crude oil and natural gas. The Company also provides advanced handling and processing systems to industrial customers.

Looking at peaks and troughs horizontal support and resistance levels, we can see current calculated support at $50.85 and calculated resistance at $55.00. These levels should also be evaluated by traders when planning their trades, as they provide an insight into the latest price action.

Traders wanting to establish a position on FMC Technologies will be looking at the price action for evidence of buying near the 50 day moving average, and opening a position as close as possible to this important level. Also traders will be looking at the latest price action, via the stocks current range previously defined for insights of other key levels that might affect their upside or downside.