TechnipFMC plc (FTI): Price Now Near $6.95; Daily Chart Shows Downtrend on 50 Day Basis

The Hourly View for FTI

At the moment, FTI (Get Ratings)’s price is down $-0.12 (-1.77%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as FTI has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

FTI’s Technical Outlook on the Daily Chart

Currently, FTI’s price is down $-0.32 (-4.4%) from the day prior. This is a reversal of the price action on the previous day, in which price moved up. As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe. Of note is that the 200 day changed directions on FTI; it is now pointing down. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The chart below shows FTI’s price action over the past 90 days.

FTI

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