FMG 0.18% $21.90 fortescue ltd

FMG Technical Analysis, page-8911

  1. 9,743 Posts.
    lightbulb Created with Sketch. 4200
    Id say we are getting to the top soon.
    22-22.50 is the triple top high from last year
    This bull run early jan and from 1 November was very predictable.

    my call 22-23 resistance
    can it break out past this prior high 22 toward all time high 26?
    with IOP at 120 and FCF flowing like rain, maybe/maybe not.
    Im not calling an all time high at 26. Not yet.

    Need to see what the SHORTs do and when they attack after this big loss for them today
    They likely will re-enter at the highs and try to drop if there
    Will see around 22-23 what happens but I know BULL SEASON goes to Jan/Feb normally
    This year early Jan high was expected by me.
    GOLDEN CROSS is BULLISH

    Give it another week with HOLD sentiment.
    Need to see the candles MACD RSI amd momentum next week for a clearer picture.

    Trading Rule 3
    Dont sell on the way up, sell on the way down from a top, as you dont know where the top will be,
    it might overshoot way higher than you ever thought.

    Trading Rule 8
    go free carried at the 1-2 bag, up 100% sell 50%, preserve capital always, you can never go bust by selling for a profit.
 
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