FMC Corporation (NYSE: FMC) price has shown a massive downfall and indicates seller dominance for the past sessions. Moreover, the price action shows that FMC stock has broken its crucial support zone, indicating short buildup activity in the last trading sessions. Furthermore, FMC stock has persisted in dragging the gains and failed to hold the gains, resulting in a massive decline over the past weeks. Moreover, the chart structure favors the sellers and suggests a follow on selling, which may head toward the immediate support mark of $60.
FMC stock signals bearishness and faces selling pressure, forming a bearish rounding top pattern on the charts. Moreover, the price action signals that sellers persisted in gaining traction and attained momentum by decisively smashing below the ongoing clusters for the past sessions.
At press time, FMC stock price is trading at $75.46 with an intraday drop of 0.84%, showing bearishness on the charts. Moreover, the trading volume increased by 1.98% to 3.065 Million, and the market cap is $9.412 Billion. However, Analysts maintained a buy rating with a yearly target price of $111.66, suggesting a growth outlook. However, the stock faced selling pressure and lost the initial gains, hovering below the primary support of $80.
FMC Corp. is an agricultural sciences company that provides solutions to growers and pipeline development in crop protection, plant health, precision agriculture, and professional pest and turf management.
It offers insect control products under the Rynaxypyr and Cyazypyr brands, herbicides under the Authority, Boral, Centium, Command, and Gamit brands, insecticides under the Talstar and Hero brands, flutriafol-based fungicides, and bionematicides under the Quartzo and Presence brands.
FMC Stock Shows Bear Dominance On Daily Charts
On the daily charts, FMC stock price showed a breakdown and is trading below the significant moving average, showing bearishness for the past sessions. Moreover, the price has slipped below the 38.2% Fib level, is heading toward the 23.6% Fib zone, and is on the verge of the lower Bollinger band.
The RSI curve stayed below the oversold region and showed a bearish divergence, indicating a negative outlook on the charts.
The MACD indicator showed a bearish crossover and formed red bars on the histogram, suggesting a follow on selling in the upcoming sessions.
FMC stock price is trading below the significant moving averages, showing bearishness on the charts. Moreover, the price is now near the critical zone, which, if it breaks, leads to a free fall toward $60. Conversely, the RSI curve suggests a rebound, with trendline near $80 being retested. However, sellers persisted in making short buildup and suggested a negative outlook for the following sessions.
Support Levels: $70 and $60
Resistance Levels: $80 and $90
The views and opinions stated by the author or any people named in this article are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.