FMC Stock Has Been Skyrocketing since November
FMC stock price
FMC (FMC) stock has been skyrocketing since November 1, 2016. So far, FMC has outperformed the broader market (SPY) and its peer Albemarle (ALB), which have returned 5.6% and 3.6%, respectively, while Sociedad Quimica Y Minera de Chile (SQM) dropped 3.4% for the same period.
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The sudden spike in the stock price was mainly attributed to good 3Q16 results, specifically due to its lithium segment. Lithium companies are on the rise due to increased demand for lithium-ion batteries that are used by electric vehicle companies like Tesla (TSLA).
Moving averages and relative strength index
The rise in FMC’s stock price has breached the 100-day moving average on an upward trend. FMC is trading 12.1% above the 100-day moving average price of $50.56 as of December 28, 2016. FMC’s 52-week low is $32.24, while the 52-week high is $60. On a year-to-date (or YTD) basis, the stock has risen 44.8% as of December 28, 2016. FMC’s 14-day RSI (relative strength index) of 53 indicates that the stock is neither overbought nor oversold. An RSI score of 70 means that a stock has moved temporarily into an overbought situation, whereas an RSI score below 30 indicates that a stock has moved temporarily into an oversold position.
Investors can hold FMC by investing in the Guggenheim S&P 500 Equal Weight Materials ETF (RTM), which invests 4.0% of its portfolio in FMC.
Read the rest of this series for a closer look at FMC’s latest dividend announcement, analysts’ latest recommendations, and its most recent valuations.