FMG 1.86% $19.54 fortescue ltd

FMG Technical Analysis, page-6420

  1. 10,086 Posts.
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    The shorts are in charge and the INSTOs have followed in now so momentum to the downside.
    Its trying to find its support ledge and the last 3 pivots have all broken down quite easily actually.

    From TA for the longs/bulls, we try to find a reversal trend or bullish reversal candles or support pivots
    For the bears/shorts, we try to find tops and bearish candles with bearish signals
    This was shown at 25-26 as I called it in Jan, the longs and value investors should have been exiting there.

    Its in a classic falling knife pattern now, the double top a visible clear top formation around 25-26 as I correctly called it in January.
    Look at the 6 month chart, its all there in all its glory... the ledge at 15-17.
    Has to show a flattening out of the DMA and volume support with shorts breaking down & green bars or shoot up candles..
    Nowhere in sight

    xxxx the shorters, it should be illegal to sell shares you dont even own.
    I hate shorters, but sorry, they are in charge here as they burn them Longs burn..

    Bull trap, now a falling knife trap,
    shoulda taken the money toombs
    Last edited by tomboy: 22/03/21
 
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