The upward trend could come to support FMC Technologies in the coming sessions.

The group enjoys upward revisions in earnings per share and growth prospects. Indeed, the Thomson Reuters consensus expect sales to grow for the fiscal year to 6.959 billion dollars compared to 6.151 billion for the previous year.

Following a bullish wave, the stock now shows a slight decline that led it towards its USD 52.9 medium-term support. On this level, remobilization of buyer flows would allow an uptrend in the medium and long term. Moreover, the bullish trend line should avoid a continuation of the consolidation phase in the coming trading sessions.

The decline observed in the short term offers an interesting entry point for a trading strategy. Investors will take advantage of the current area to buy FMC Technologies. The objectives will be set at USD 55.7 and by extension USD 58.7. The stop loss will be triggered below the USD 52.9 support.