Tuesday, October 13, 2015

FMC Technologies, Inc. (NYSE: FTI)

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:
1-year chart of FMC (NYSE: FTI)
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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