The Greedy Trader Weekly Analysis
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Weekly Pattern:Broadening Ascending Wedge
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Chart Analysis and Chart Pattern Recognition – Broadening Formations

Broadening Formations, including Broadening Ascending Wedge, present inverted triangle patterns. They start with narrow fluctuations, and then widen out between diverging boundary lines. The pattern, where one of the boundary lines is horizontal, is referred to as a right-angled formation. Broadening formations usually mark the reversal when confirmed by other technical indicators.
Broadening formations Screening page presents a list of stocks forming Broadening formation Pattern.
Tips:
# 1
As a reversal formation, Broadening formation Pattern appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators. This situation usually generates divergence on long-term indicators.
# 2 For the best results, chart patterns and trend resistance support should be considered together with other technical analysis signals and technical trading techniques.

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- 3/15/2024 -
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FMC Corp. (FMC) Technical Analysis

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Summary:
Weekly :Overbought sector
Daily :Relative Strength Index and Lane's Stochastic are overbought20 Day Moving Average has crossed above the 50 Day Moving AverageBullish Piercing Line Candlestick
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It was a fifth consecutive positive week for the FMC Corp. (FMC). During the week, the FMC gained 2.36 points, or 3.76%, and closed at 65.05 on Friday, March 15, 2024. Weekly volume was 24% above average.

FMC is a member of Materials Sector. Materials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See FMC long-term trend chart]
A long-term downtrend had started on April 20, 2022 at 140.99 and reached 49.50 on November 10, 2023. FMC lost 91.49 points, or 64.89%, in 81 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 37.13 and resistance is at 120.87. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.

Medium-term trend: [See FMC medium-term trend chart]
A medium-term uptrend had started on November 10, 2023 at 49.50 and reached 67.08 on March 13, 2024. FMC gained -17.58 points, or -35.52%, in 17 weeks. The price is now at the 11.55% retracement level.

Weekly Technical Indicators: [See FMC weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since December 8, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See FMC short-term trend chart]
A short-term uptrend had started on February 21, 2024 at 50.03 and reached 67.08 on March 13, 2024. FMC gained -17.05 points, or -34.08%, in 21 days. The price is now at the 11.91% retracement level.

Daily Technical Indicators: [See FMC daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Relative Strength Index help.

The daily MACD line is above its signal line since February 26, 2024. This is an indication that the short-term trend is up.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Candlestick pattern: [See FMC candlestick chart pattern]
On Friday the chart has formed a Bullish Piercing Line Candlestick pattern. This pattern suggests bulls have begun to take charge of the market, and shorts have been shaken by the sudden lost of bearish momentum. The reliability of the Bullish Piercing Line pattern is moderate. Use the Technical Stock Screener to see the list of stocks that had a Bullish Piercing Line Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 80.06
Overbought
Williams' Percentage Range (W%R) 21.50
Lane's Stochastic (%D-Slow) 84.12
Overbought
Greed/Fear Indicator (GFI) 80.89
Overbought
Moving Average Converg./Diverg. (MACD) 1.67
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 60.58
Williams' Percentage Range (W%R) 20.90
Lane's Stochastic (%D-Slow) 41.47
Greed/Fear Indicator (GFI) 58.19
Moving Average Converg./Diverg. (MACD) -8.23
Trading Signals
Description Value Chart
Upper Bollinger Band 70.68
Daily Stochastic Crossing 65.69
Price 65.05
Parabolic System 63.08
Weekly Stochastic Crossing 58.50
20 Day Moving Average 57.89
50 Day Moving Average 57.26
Lower Bollinger Band 48.94
Sector and Industry
Description Name Rank
Sector Materials 10
Industry Fertilizers & Agricultural Chemicals 68
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 51.01
Low Date 02/28/2024
High 67.08
High Date 03/13/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 50.03
Low Date 02/21/2024
High 67.08
High Date 03/13/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 49.50
Low Date 11/10/2023
High 67.08
High Date 03/13/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 134.38
High Date 12/02/2022
Low 49.50
Low Date 11/10/2023
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 120.87
Support 37.13
High 140.99
High Date 04/20/2022
Low 49.50
Low Date 11/10/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.