FMG 3.61% $20.10 fortescue ltd

FMG Technical Analysis, page-6832

  1. 10,002 Posts.
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    24.00 resistance smashed
    a new 4th wave high in process exceeding 23.95
    another higher high after higher lows.

    rising wedge pattern very bullish
    yet higher green not very convincing as yet. Higher open did the work
    with IOP above 210, FMG should be at 30-33 but nowhere near it as market concerned aboout increasing junk bond debt, reducing cash & spending on hot air rather than core business.

    shorters will come in in arvo to snap the runup yet again looks like.
    still,
    BURN them shorters, BURN!
 
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