FMC Corporation (NYSE: FMC) shares rose on Wednesday February 8 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock, boosting the price target of stock.
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.
FMC Corporation (NYSE: FMC) had its price target boosted by equities researchers at Instinet from $0.00 to $61.00. With a rating of on the stock, FMC Corporation has a 52-week high of $62.84. As a means of comparison, a number of other analysts have issued reports on the stock recently, and the company has earned a consensus one-year price target of $59.00, higher than the opening price of $58.07, a difference of 10.33 percent.
Shares of FMC Corporation (NYSE: FMC) opened at $58.07 yesterday trading between $56.82 and $58.07, and last traded at $57.13, an increase 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 traded hands yesterday, 68 percent below the norm, 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 upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have teams of analysts that investigate thousands of stocks, so it is good confirmation to see them taking a postion in a stock you are researching.
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 identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of successful 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 critical factor to research when buying stocks and investors look for companies that have grown their earnings at least 25% or more for 3 consecutive years.
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