FMC Corporation (FMC) Favors Corrective Pullback Before Rally Resumes

FMC Corporation (FMC) provides crop protection, plant health & professional pest & turf management products. It develops, markets & sells crop protection chemicals that includes insecticides, herbicides & fungicides & biologicals, crop nutrition & seed treatment products around the globe. It is based in Philadelphia, comes under Basic Materials sector, trades as “FMC” ticker at NYSE & having $10.738 B market cap as on September-1st, 2023.

FMC made ATH of $140.99 as (I) impulse sequence & favors pullback in zigzag correction in (II). It favors lower in wave c of (II), which extend between $91.60 – $65.16 area before turning higher.

FMC – Elliott Wave Latest Daily View: 

It finished (I) at $140.99 high, in which it ended I at $108.77 high, II at $56.77 low, III at $123.66 high, IV at $87.27 low & V at $140.99 high in April-2022. It reacted lower in wave a, which ended at $98.24 low having 5 swing sequence. It placed ((1)) of at $111.44 low, ((2)) at 126.02 high, ((3)) at $102.73 low, ((4)) at $111.64 high & ((5)) as wave a at $98.24 low. It placed ((A)) at $114.43 high, ((B)) as flat structure at $103.05 low & ((C)) at $134.38 high as b connector.

Below b wave high, it favors lower in (3) of ((3)) of c & expect to remain sideways to lower within extreme areas to finish (II). It placed ((2)) at $133.37 high & (2) at $125.20 high. Below there, it favors lower in 3 of (3) of ((3)) & expect downside to continue for few more lows in daily to finish c wave. It expects c to extend between $91.60 – $65.16 area before turning higher.