Get started
FORTESCUE LTD.FORTESCUE LTD.FORTESCUE LTD.

FORTESCUE LTD.

No trades
See on Supercharts
Overview Financials News
Ideas
Discussions Technicals Forecast Seasonals Bonds

FSUMF trade ideas

Fortescue Metals: as long as 18.17 is support look for 21.54Alternative 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 both its 20 and 50 day moving average (respectively at 18.88 and 16.89). Trade Safe - Jimster45
ASX:FMGLong
by Jimster45
1
FMG little hope otherwise $11 range next.With current uncertainly www.commsec.com.au following is a snippet from news: 1. Either way, Aussie investors are indirectly exposed to Evergrande through the Chinese property sector’s insatiable demand for iron ore. The price of the steel-making ingredient - Australia’s most important export - has already halved from record highs of around US$233 a tonne in May, following China’s clampdown on the property sector and pollution. 2. A downdraught in Chinese property prices would further subdue construction and reduce iron ore demand. Of course, a potential Evergrande default would be catastrophic for steel demand and shares of Aussie-listed iron ore producers. with current levle of uncertainlty, it's just like catching falling knife, unless we get trend reversal confirmation. I will be looking for following conditions: next week if it closes above $16, would give us some hope - OR - if it goes below $13.50 then next stop would be $11 range. Please note these are my own notes for future reference, by no means trading advise to anyone. Also, please feel free to comment or share your thoughts.
ASX:FMG
by AsimMirzaTrader
FMG Price Channel Oct-21 Through Dec-23Fortescue Metals Group (ASX:FMG) This chart provides two price levels of established historical support. FMG shares have taken a bruising since late July in tight correlation with the drop in iron ore prices. Falling prices and the Evergrande debacle in China, its biggest importing nation, have been a 1-2 punch on this otherwise healthy and growing Australian mining company. Macro trends and commodities price forecast will be a main driver in the short and medium term. Comfortably in the top 5 iron ore producing companies in the world, Fortescue is the largest landholder in Western Australia. A solid balance sheet and strong bottom-line growth position this stock well for the long term future. Highlighted Metrics (source WSJ 2021-10-07): P/E = 3.14 Debt to EBITDA = 0.26 Quick Ratio = 2.00
ASX:FMGLong
by Bowling_Knight
4
ASX:FMGThe recent drop in iron ore prices has seen the major mining companies being beaten down, the selling has now reached panic proportions and of all the big miners Fortescue has faired the worst. While I am not saying this is a good time to buy, as iron ore prices still have fundamental head winds to contend with and the prices can certainly move much lower before smaller miners are forced out the market and the supply glut begins to dissipate. However expect some consolidation or a small bounce within the highlighted zone before any moves lower are made. This zone will be the first major test for bulls if the can keep prices around the $15.00 mark and a floor develops in the next few months in iron ore prices this could develop into a good buying opportunity. Don't be surprised though if price consolidates before moving lower to one of the highlighted support zones. *Not a recommendation to buy or sell, simply for educational purposes*
ASX:FMG
by MarkE
2
FMG Fortescue on important resistanceThe Australian iron ore miner has reached an important resistance. The next moves could be decisive for the near future of the stock. However, the recent drop in iron ore prices (see chart FEF1! ) makes any predictions difficult. FMG itself is - from my point of view - still fundamentally very interesting due to low debt, its investments into the future (autonomous, cero carbon, hydrogen) and inflationary politics from central banks. Risks: China, iron ore prices, disasters
ASX:FMGLong
by YummyStocks
3