Fortescue is showing signs of weakness after failing to break out from last month's IHS/cup formation. There's potential for a drop to $15.
Thanks for viewing Just a simple technical analysis of the share price of FMG assuming continued correction from all time highs. Mostly just based on the Iron ore price having lost 55% from 2021 highs and still being 50% (while FMG is only down only 28%) down presently. Mapped out some support / demand and resistance / supply zones. Thinking something around...
Alternative scenario: the downside breakout of 18.17 would call for 17.2 and 16.29. My pivot point stands at 18.17. My preference: as long as 18.17 is support look for 21.54. Comment: The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The stock could retrace in the short term. Moreover, the stock is trading above...
Price at time of analysis is 45.5% discounted from high. Price action seems to have created a base over the last month with RSI divergence. depending on your time horizon current prices seem cheap especially when considering the company's fundamentals.
Broke out today, I do expect $FMG to go higher in the short to mid-term just like BHP.
Time to go long on Mining stocks. $RIO $BHP and $FMG all have bullish chart patterns in play for next month and early 2021.
It was a phenomenal impulse. But now, it is time to come back to reality on Fortescue. NFA
Hi guys its bokchoininja here with another fibonacci analysis. In this analysis I highlight three critical zones of support and resistance predicted by good old fibonacci ratios. We had a nice kiss on the 1.618 level and are struggling to break past the current resistance zone. If we do break past we are headed upwards but the resistance box is where i have my buy...
Upside seems limited but 8.60 is current support. Risk of iron ore prices and Vale coming on line remain. But Ziggy has offered big dividend surprises recently and with low interest rates, dividends are king. Continuing to take shorts. Looking for 7.60.
FMG has formed a Head and Shoulder bottom. Price has broken a recent 6 day channel high. ADX signalling a bullish trend is forming. RSI at 65 and in an uptrend. Stochastics signalling momentum.