The previous cycle fmg got above $25 then went back below $15. This cycle it got almost to $30 and so if it drops back to $18.55 as speculated here thats a drop of roughly the same percentage. Its starting to be in the range of a cyclic low type buy for me given how solid the company cashflows are.
At the highs approaching $30 everybody on this forum was bullish. As the price drops watch the negative comments appear on HC. But actually the opposite is true. For such a solid company I'm keen to buy more i iust want to do my buying during the cyclical lows.
Iron ore price, page-53230
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Last
$19.27 |
Change
-1.080(5.31%) |
Mkt cap ! $59.33B | |||
| Open | High | Low | Value | Volume |
| $20.29 | $20.61 | $18.69 | $319.2M | 16.25M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 35024 | $19.27 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.28 | 30769 | 3 |
View Market Depth
| Last trade - 16.10pm 08/10/2024 (20 minute delay) ? |
| FMG (ASX) Chart |