FMC Corporation (NYSE: FMC) shares rose in value on Wednesday February 8 on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile U.S. stocks traded modestly lower on Wednesday, as losses in energy shares following a drop in oil prices and a slide in financials weighed on the main indexes.
The S&P 500 index SPX, -0.17% declined 6 points, or 0.3%, to 2,286, with six of the main sectors trading lower. Energy and financials were leading the losses, down more than 1%.
The Dow Jones Industrial Average DJIA, -0.26% was down 65 points, or 0.3%, to 20,021, a day after the blue-chip index set an intraday high at 10,155.35. The Nasdaq Composite COMP, -0.13% retreated from an all-time high set on Tuesday, falling 23 points, or 0.4%, to 5,650.
Analysts at Longbow Research upgraded shares of FMC Corporation (NYSE: FMC) from Neutral to Buy today. Longbow Research currently has a rating of Buy on the shares. The one-year price target of $59.00 is above the opening price of $58.07, that has caused a fair amount of other analysts to comment on the stock in recent days. Looking back over the last year, FMC Corporation stock has a high of $62.84. Stock prices sometimes get a bounce to the upside when analysts upgrade a stock.
Shares of FMC Corporation (NYSE: FMC) opened at $58.07 yesterday and traded in a range between, $56.82 and $58.07, and last traded at $57.13, a spike of $0.10 from the previous closing price.
FMC Corporation (NYSE: FMC) currently has a market cap of 7.65B.
FMC Corporation (NYSE: FMC) Average Daily Trading Volume
265,994 shares crossed the trading desk yesterday, 68 percent lower than normal, out of a total float 122,427,000. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for short periods will not mean much will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors have substantial teams of analysts that investigate thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
FMC Corporation (NYSE: FMC) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
With that in mind, FMC Corporation (NYSE: FMC) now has a 50-day MA of $58.95 and 200-day MA of $52.11. It has traded in a 52-week range between $32.24 – 62.84 and today’s last price is 9.09%% lower than the 52 week high of $62.84.
Earnings growth is a crucial factor to research when investing in stocks and investors seek companies that have been successful at growing their earnings at least 25% or more for 3 consecutive years.
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