FMC Corporation is an agricultural chemical company. It began operations as an insecticide company before diversifying into other areas of crop development and agriculture. FMC Corporation has a strong track record of research and product development. It is one of the five largest patented crop chemical companies in the world. It has a well-diversified portfolio across crops, geographies, and clients. Agriculture is expected to grow at a steady rate, and the strong competitive position of FMC Corporation within its industry boosts its longer-term growth prospects.
The long-term monthly chart for FMC shows an uptrend that began in 2016. The price has consistently made higher tops and higher bottoms over the past five years. It has also largely stayed within a clear channel marked by the top and bottom trendlines. The bottom trendline was briefly broken in March and April of 2020 as a result of the pandemic. Most recently, the price fell about 25% and again briefly broke the bottom of the long-term trend, only for the cost to recover in September 2021. The likely initial target of this reversal move is now $108 and then $120. A stop-loss can be placed at the low of the previous month’s (August 2021) candle at around $87.
Position entered into our long-term tracking portfolio today. The entry point is at $92.46, and stop-loss is $68.97, which is 23% below the entry point. The short-term to medium-term take profit at the top of the trend is set at $121.96, giving a profit of 32%.
On the video and images above you will see the reason this stock was selected.
You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.
Once it is time to move the original stop loss up you will see an additional image.