If FMG gets to $4 I will be very very surprised. This IO price decline has been forecast, built in to models and is not unexpected..that last point is especially relevant to all the sensationalists in the media and posting that the end is near for FMG. IMO, it's not the iron ore story that needs to unfold as we are pretty clear about that over the next number of years, it is the greater Chinese story.
19 odd million (gross) short positions yesterday too. There'd need to be some pretty big shocks to come out to continue to drive this price from $5 to $4. IMO only.
stairs on the way up escalator on the way down, page-74
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Last
$21.52 |
Change
-0.100(0.46%) |
Mkt cap ! $66.25B | |||
| Open | High | Low | Value | Volume |
| $21.60 | $21.61 | $21.25 | $97.49M | 4.544M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 3904 | $21.52 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.54 | 4837 | 1 |
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| Last trade - 16.10pm 22/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |