Technical bounce inside an ongoing short
FMC stock rebounds 8.6% off its 20-day average, but money flow flags caution
Our view last week
FMC stock dropped 4.2% this week, with sellers back in control of 73% of volume and the weekly RSI down to 30.9, its lowest reading in a month. Price has returned to the 9.9 area already touched before, but no session has defended it yet: for now the decline continues. The short has been in play for 16 weeks and is already up more than 31%.
This week's summary
After 3 down weeks and a weekly RSI down to 30.9, its lowest reading in a month, FMC stock changed tone: this week the stock rebounded 8.6% off its 20-day moving average, with buyers back in control of 76% of volume. The Sell signal, under management for 18 weeks, still sits comfortably in the money, above 25% — though money flow turned negative in this very rebound week, a sign the bounce hasn't fully convinced yet.
IQS Phase
63
ordinary
Signal Strength
6
decline fading out
Sizing
MINIMUM
Ranking
#71 / 93
US stocks
Trade P&L %
+25.94%
from signal to date, no stop loss
Rank position
ranks 71st among the 93 sell signals for US stocks in our ranking, with a signal strength of 6 out of 100.
Sector context
SectorMaterials
Benchmark ETFXLB
Sector regimein strong phase
Performanceweekly +1.90% · monthly +5.35%
FMC belongs to the materials sector (reference ETF XLB). The sector is classified in strong phase according to our weekly reading.
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