I think you are right, since there is no correction oncoming from FMG, we must take 37.82 as right. I don't agree with your explanation but there's is some truth in it, it made me think. My explanation is lacking something as well.
I put my thinking cap on and by tomorrow I may have a total picture which is cohesive and makes sense from the broader perspective
Regarding shorters attack, FMG is not shorted much, SP is manipulated by people who have money and facilities.
News: FMG Fortescue Metals Group says qtrly shipments of iron ore was 44.7 mln tonnes, page-30
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Last
$21.71 |
Change
-0.190(0.87%) |
Mkt cap ! $66.84B | |||
| Open | High | Low | Value | Volume |
| $21.77 | $21.80 | $21.34 | $408.6M | 18.51M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 289875 | $21.68 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.72 | 95078 | 4 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| FMG (ASX) Chart |