Iron ore price, page-24929

It's that hump around $17.50 or so, imo. We keep hitting that area on the upside and encounter resistance that can't yet be overcome. The stock then retreats back to lower support levels round the low to mid $16's. It has happened multiple times recently and gives me the impression that the stock is range trading. We need a circuit breaker to give buyers the courage to push beyond $17.50 and test the previous highs above $19.00.
It's easy for those of us whose average buy in is much lower than current prices to wonder at those unable to see more value in the stock but, given current geopolitical tensions, issues and the annoying Chinese willingness to tweak Australia's nose at the moment, one can understand a certain hesitancy on the part of new buyers.
Perhaps the AGM will provide reasons for further bullishness... perhaps not, we shall see, but the fact remains that there's not much wrong with FMG and in time the stock price should reflect that truth...........