Iron ore price, page-9554

Mate, target prices come from previous price action.
The last target price was 5.79 which I thought was a stretch but the market being the market will decide.
Thats why I don't jump in with all guns blazing and just slowly build a position.
My position in this is purely technical and has zero fundamental consideration.
The technicals are telling me it has gone too far too fast.
Now,how the technicals resolve themselves remains to be seen.On occasion the stock will drift sideways as the technicals realign.If thats the case I will exit with a loss.Most times a reversal takes place. 
If you look at a chart pattern on FMG it had already been in a rising trend since September albeit a bit choppy.Then there was a breakout in early January where the trend began to pick up steam.
The Tragedy in Brazil has pushed FMG into a parabolic state.
As a general rule I don't like shorting but when fools rush in then I like to be on the other side of the herd as they trample over the cliff.
Also volume is decreasing as the stock rises meaning less buying at higher prices.
Any type of analysis requires zero emotion.Once emotion enters the fray then the analysis becomes corrupted and is totally worthless.