The risk/reward on FMG is not good for a short for me.
It broke a double top at $20 which targets $14
Trendline support and 200 week EMA lies at $14
Looking oversold I would rather wait to see reaction at $14 as possible long entry.
Iron ore is approaching trendline support and 78.6 retracement at $83.
in summary potential small circle 10 percent downside on FMG but on high alert for technical bounce
See PBT as an example which went through 200 week EMA ON daily basis but strong buying on Friday to close above on weekly basis
Daily Price Movement / General Discussion, page-29307
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Last
$1.70 |
Change
0.000(0.00%) |
Mkt cap ! $1.909B | |||
| Open | High | Low | Value | Volume |
| $1.68 | $1.71 | $1.63 | $41.23M | 24.86M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 52 | $1.69 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.70 | 125754 | 4 |
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| Last trade - 16.10pm 22/07/2024 (20 minute delay) ? |
| ZIP (ASX) Chart |