TECHNIPFMC PLC (NYSE:FTI) Technical Analysis observations.

Our stock screener has detected a potential breakout setup on TECHNIPFMC PLC (NYSE:FTI). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NYSE:FTI.

Analyzing the Technical Aspects

ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.

Taking everything into account, FTI scores 10 out of 10 in our technical rating. Both in the recent history as in the last year, FTI has proven to be a steady performer, scoring decent points in every aspect analyzed.

• Both the short term and long term trends are positive. This is a very positive sign.
• When comparing the yearly performance of all stocks, we notice that FTI is one of the better performing stocks in the market, outperforming 95% of all stocks. We also observe that the gains produced by FTI over the past year are nicely spread over this period.
• FTI is one of the better performing stocks in the Energy Equipment & Services industry, it outperforms 92% of 65 stocks in the same industry.
• FTI is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so FTI is leading the market.
• In the last month FTI has a been trading in the 24.82 - 27.26 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Check the latest full technical report of FTI for a complete technical analysis.

Looking at the Setup

Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NYSE:FTI this score is currently 9:

Besides having an excellent technical rating, FTI also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 26.93. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 26.09, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading breakout setups.

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.