On Friday, TechnipFMC hit an important technical milestone, with its Relative Strength (RS) Rating rising into the 80-plus percentile with an upgrade to 81, a rise from 78 the day before.
IBD's proprietary rating identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the last 52 weeks compares to all the other stocks in our database.
History shows that the market's biggest winners often have an 80 or better RS Rating as they begin their biggest price moves.
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TechnipFMC is working on a consolidation with a 29.85 entry. See if it can clear the breakout price in volume at least 40% above average.
The company showed 205% earnings growth in its most recent report, while sales growth came in at 14%.
The company earns the No. 6 rank among its peers in the Oil & Gas-Machinery/Equipment industry group. Archrock, Chart Industries and Natural Gas Services are among the top 5 highly rated stocks within the group.
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