Samboy, you are over analyses TA. Looking at day to day candle doesn't tell you anything. Have a look at the SP graph from late June and you will see a clear trend..... UP!
The daily up and down of FMG I see that with most of my other stocks as well.
SP is just consolidating around $6 mark, today was a gift to buy below $5.70.
SP goes down doesn't mean it's weak, it's just some garbage some people say when they have no idea why it goes down. Lately I have not seen a STRONGER SP action from FMG for the last 12 months, SP basically found a lot of support even when IO Future dropped more than 11% last week, in the past, SP would fall 15% by now, but we've seen SP barely moved after a week of heavy selling at IO Future.
The Banks/Funds are long FMG now, they will try to suck in as many share as they can below $6 before SP pop and run past $6.50. I see $6.50 more likely than $5.50.
DYOR.
Frank.
FMG Technical Analysis, page-92
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Last
$18.00 |
Change
0.310(1.75%) |
Mkt cap ! $55.14B | |||
| Open | High | Low | Value | Volume |
| $17.90 | $18.17 | $17.62 | $246.6M | 13.73M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 14411 | $17.99 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.00 | 4000 | 2 |
View Market Depth
| Last trade - 16.10pm 24/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |