The 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...
I am short on FMG due to the double top as well as divergence signal. Lets see how this plays out
FMG has always been my great holding , im seeing price will go up to $28 at ATH , i didnt post my previous work before as im not confident with my analysis , now i will keep update on my work ! break out from headnshoulder and symmetrical triangle
Broke out today, I do expect $FMG to go higher in the short to mid-term just like BHP.
Ascending triangle forming for Fortescue on the daily chart. Potential breakout to the upside if it can breach the previously tested level of $24.00. Fairly solid support trendline dating back to March 2020. #FMG
Fortescue Metals Group is on my list due to great fundamentals. Technicals now seem to indicate a breakout? Can anyone confirm this? Still newbie :)
pretty healthy looking accumulation/consolidation after a solid run on the 2D
Can't be bothered explaining the thesis, I'll probably post that on reddit somewhere... anyway, price target sits at $28.49.
Looking quite a clean setup with a continued trend line to intersect at end - and Fibonaacci just happens to be in that right place too...perhaps
FMG had been in a very nice uptrend in 2020, but the recent price action of Lower Highs and Lower Lows suggest that the trend may have weakened and it may find resistance between $24.00 and $25.00 level, and head lower. I think we may see a decent retracement lower ideally between the 50% and 61.8% Fib Retracement, between $14.00 and $15.50. I would be cautious at...
Three trend lines pointing to the same place and the 200ma (white) just happens to intersect as well - thanks 'Harly Trades' for reminding me to check it.. P-plater observation - not financial advice :)
Hi everyone FMG has been in a minute degree correction since 7-8th Jan, it played out as a running flat (?). Seen a few of these across various charts and they're supposed to be rare lol. Anyway, all the necessary internal waves seem to have played out which given the high degree .618 point of 18.82 leads me to believe this micro fifth will truncate, and begin...
After Long Bullish run FMG has came back Down to 200EMA. FMG is right on support and jumping from 200EMA. plus its making M pattern or u can call butterfly pattern . FMG is very good long term stock. Not Recommendation.
take advantage of buying at point D (around 22 AUD). the ASX:FMG has a potential to reach the AUD 26 next.