Skip to main content

FMC Corp. (Friday’s close US$105.47) rallied from US$20.79 in early 2016 to US$87.25 in early 2018 (A-B), then pulled back and began a two-year period of accumulation in the form of a bullish “W” pattern (dashed lines). The ensuing rise above the neckline of this pattern (dotted line – C), followed by an upturn of the 40-week Moving Average (D) signaled the breakout from the “W” formation and the start of a new up leg.

FMC has since pulled back toward its average (E) and now appears ready to resume the up trend. Only a sustained decline below the 40wMA (currently near US$89-90) would be negative.

Point & Figure measurements provide targets of US$109 and US$119. The large “W” pattern (dashed lines) supports higher targets.

Open this photo in gallery:

stock

Monica Rizk is the senior Technical Analyst and Ron Meisels is the President of Phases & Cycles Inc. (www.phases-cycles.com). And he tweets at @Ronsbriefs. They may hold shares in companies profiled.

Chart source: www.decisionplus.com

Report an editorial error

Report a technical issue

Editorial code of conduct

Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 07/11/24 7:00pm EST.

SymbolName% changeLast
FMC-N
FMC Corp
-0.15%60.84

Follow related authors and topics

Authors and topics you follow will be added to your personal news feed in Following.

Interact with The Globe