FMC Technologies, Inc. provides technology solutions for the energy
industry worldwide. The company operates through Subsea Technologies,
Surface Technologies, and Energy Infrastructure segments. The Subsea
Technologies segment offers subsea systems for the offshore production
of crude oil and natural gas; and well access and flow management
services, including installation and workover tools, service technicians
for installation assistance, and field support services. The Surface
Technologies segment offers wellhead systems for standard and
custom-engineered applications; fluid control products for the well
completion and stimulation activities; and flowback services, cased hole
electric wireline and slickline services, specialty logging services,
pressure transient analysis, and well optimization services. The Energy
Infrastructure segment provides measurement products for applications,
such as custody transfer, fiscal measurement, and batch loading and
deliveries. The company serves lubricant, petroleum, fuel blending,
additive and chemical, and oil and gas industries.
Take a look at the 1-year chart of FMC (NYSE: FTI) below with the added notations:
FTI has been on somewhat of a slow, steady decline over the course of
the past year. Along the way, the $35 price level (blue) has become
very important to the stock over the past 9 months. Not only was $35 a
key support back in January and March, that level has also been hit as
resistance a couple of times here recently.
The Tale of the Tape: FTI has a key level at $35. A
trader could enter a long position on a break above $35 with a stop
placed under the level. However, if traders are bearish on the stock, a
short trade could be made instead at the $35 resistance.
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