FMG Technical Analysis, page-267

Red bar even worse than I called intraday today, 6c body, 4c tail 1c wick but closed a whopping 18c lower than yesterday. Damage done at opening auction down 10c at start and then another 4c in first 30 min then 4c down in arvo. the close was actually a good recovery in part.
The tail is pointing downwards and the patterns and chart indicators are bearish.

Problem is that it is now below the 4.90/5.00 support level and next support is 4.65
Problem is the cliff face pattern 6 -5 has shown a continuation connection with a secondary cliff face now formed 5.15-4.83. The last cliff face went down a whole $1 so we are at 30% of that and 4.65 looks the targets for shorts now.

I find it coincidental that this bear trend correction happened just as soon as the divvys were all paid out meaning a lot of holders took the divvy cash and sold out short term. Must be pros. The market is addicted to FMG dividends too much, the next one they should pump more into debt reduction if the holders wont hold the shares long but i think Forrest likes swimming in all that tax free cash.