Based on the technical analysis provided, it appears that FM stock is in a potential pre mark-up phase with strong buying interest and a potential breakout accumulation. The stock is likely to test the Fibonacci 1.618 resistance level, and its trading objective is primarily focused on dividend sentiment. While the stock is still in wave 2-3, there is potential for long-term growth. Additionally, positive sentiment in the transportation sector could benefit FM as well. In addition to the technical analysis provided, it's worth noting that FM stock is also currently in the process of completing a rounding bottom chart pattern. This pattern is characterized by a gradual decline in price, followed by a period of stabilization and a subsequent increase in price. If the rounding bottom pattern is successfully completed, it could be a bullish signal for the stock and could potentially lead to further price appreciation
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