"A wise guy once told me in Stocks you are jumping from one hole to another hole."
He is 100% correct, providing he also added that the stocks need to be trading at either 6-month or 12-month new lows. Lots of jumping from one hole to even deeper holes.
As viewed on a weekly chart with two moving averages for use as a longer-term trend following tool, the likes of FMG, WSA, IGO, SYR, ORE, KDR and other miners are rolling over, or have been trending down for some time.
Holding, or even worse, averaging down stocks making new 52-week lows, will result in a trip to the poor house. FMG now has good company with stocks like 4CE making new 52-week lows on the following list.
http://clients.weblink.com.au/clients/equitiesinfo/
Ann: Media Release FY18 Results, page-136
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Last
$19.91 |
Change
-0.560(2.74%) |
Mkt cap ! $61.30B | |||
| Open | High | Low | Value | Volume |
| $20.75 | $20.75 | $19.86 | $232.1M | 11.48M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 119100 | $19.90 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.93 | 30 | 1 |
View Market Depth
| Last trade - 16.10pm 17/10/2024 (20 minute delay) ? |
| FMG (ASX) Chart |