Above Resistance: FMC Technologies
Published on Wednesday, 16 January 2013 08:20 Written by TradersHuddle Wire
New York, January 16th (TradersHuddle.com) - Shares of FMC Technologies, Inc. (NYSE:FTI) closed the session at $46.00 just above calculated resistance at $43.97. The stock effectively broke out and grasped the attention of momentum traders, which could eventually push the stock to a different trading range.
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.
The stock was trading in a well defined range with support at $40.39 and resistance at $43.97. Given that this range was broken, traders will be closely monitoring FMC's price action to gather clues on the future direction.
From a technical perspective, it can be expected that previous resistance becomes support, as the new range gets defined. However, given that FMC Technologies is still near the broken resistance level, traders will be focusing on the $43.97 level to see if the stock holds the breakout without rolling over.
- FMC Technologies Receives Subsea Equipment Order for ExxonMobil's Julia Development
- FMC Technologies Receives $26 Million Subsea Equipment Order for ConocoPhillips Bayu Undan Phase 3 Project
- FMC Technologies Is Near Resistance
- FMC Technologies to Address Attendees at the Citi 2013 Global Energy and Utilities Conference
- FMC Technologies Is Near Resistance
- FMC Technologies Broke Resistance
- FMC Technologies To Be Recognized at OTC with Two Spotlight on New Technology Awards
- FMC Technologies Awarded Subsea Services Contract Extension by Island Offshore
- Trading Idea: - Is FMC Technologies close to Resistance?
- FMC Technologies Is Close to the 50 Day Moving Average
Related Partner Headlines
- UPDATE: Goldman Sachs Downgrades FMC Technologies to Sell on Limited Upside Potential - Benzinga
- FMC Technologies Inc. Stock Upgraded (FTI) - TheStreet.com
- FMC Technologies Inc. Stock Downgraded (FTI) - TheStreet.com
- FMC Technologies Receives Light Well Intervention Services Contracts from Statoil - Benzinga
- FMC Technologies to Acquire Control Systems International; Terms Not Disclosed - Benzinga
- Miller Tabak Reiterates Neutral on FMC Technologies - Benzinga
- Dahlman Rose: FMC Technologies to Experience Negative Implications for Coming in Below Estimate - Benzinga
- UPDATE: Global Hunter Securities Downgrades FMC Technologies to Neutral - Benzinga
- Global Hunter Securities Downgrades FMC Technologies from Buy to Neutral, Maintains PT at $54 - Benzinga
- FMC Reaches New 52-Week High (FTI) - TheStreet.com
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Dow JonesCompany ID [INDEXDJX:.DJI] Last trade:15,354.40 Trade time:4:40PM EDT Value change:▲121.18 (0.80%)
S&P 500Company ID [INDEXSP:.INX] Last trade:1,667.47 Trade time:4:39PM EDT Value change:▲17.00 (1.03%)
NASDAQCompany ID [INDEXNASDAQ:.IXIC] Last trade:3,498.97 Trade time:5:15PM EDT Value change:0.00 (0.00%)
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