FMC Corporation Stock Forecast
Weaker technical forecast for FMC Corporation as stock downgraded to Sell Candidate.
(Updated on Apr 30, 2024)
The FMC Corporation stock price fell by -1.99% on the last day (Tuesday, 30th Apr 2024) from $60.21 to $59.01. During the last trading day the stock fluctuated 2.23% from a day low at $58.99 to a day high of $60.31. The price has risen in 7 of the last 10 days and is up by 6.46% over the past 2 weeks. Volume has increased on the last day by 401 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $112.50 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 9.39% during the next 3 months and, with a 90% probability hold a price between $61.68 and $75.40 at the end of this 3-month period.
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FMC Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 6.46%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The FMC Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $60.82. On a fall, the stock will find some support from the short-term average at $58.68. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for FMC Corporation stock
FMC Corporation finds support from accumulated volume at $56.39 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.32 between high and low, or 2.23%. For the last week, the stock has had daily average volatility of 2.41%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FMC) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect FMC Corporation to open at $59.44, and during the day (based on 14 day Average True Range), to move between $57.08 and $60.94, which gives a possible trading interval of +/-$1.93 (+/-3.27%) up or down from last closing price. If FMC Corporation takes out the full calculated possible swing range there will be an estimated 6.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $60.42 (2.39%) than the support at $56.39 (4.44%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
FMC Corporation will release earnings AMC on Monday, May 06, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.350. We will update the financials statements for FMC Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.40% in the first trading day after earnings release.
Is FMC Corporation stock A Buy?
FMC Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.292 Sell Candidate Downgraded
Predicted Opening Price for FMC Corporation of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $59.44 ( 0.720%) | $59.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FMC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 60.75 | 2.95 % | |
| R2 | 60.25 | 2.10 % | ||
| R1 | 59.94 | 1.57 % | ||
| Current price: | 59.01 | |||
| Support | S1 | 58.93 | -0.131 % | |
| S2 | 58.62 | -0.657 % | ||
| S3 | 58.12 | -1.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 64.11 | 8.64 % | |
| R2 | 62.14 | 5.30 % | ||
| R1 | 60.42 | 2.39 % | ||
| Current price | 59.01 | |||
| Support | S1 | 56.39 | -4.44% | |
| S2 | 54.65 | -7.39% | ||
| S3 | 53.45 | -9.42% |
FMC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 27, 2024 | Mar 28, 2024 | Apr 18, 2024 | $0.580 | 1.02% |
| 2 | Feb 27, 2024 | Mar 27, 2024 | Apr 18, 2024 | $0.580 | 1.02% |
| 3 | Dec 15, 2023 | Dec 29, 2023 | Jan 18, 2024 | $0.580 | 1.05% |
| 4 | Dec 15, 2023 | Dec 28, 2023 | Jan 18, 2024 | $0.580 | 1.05% |
| 5 | Jul 21, 2023 | Sep 28, 2023 | Oct 19, 2023 | $0.580 | 0.87% |
FAQ
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