That is what a market does: it goes up and down depending on the views of the participants be they bots. algo traders or humans.
FMG (as well as the other majors BHP and RIO: minnows AGO, MGX, BCI) should all be up 2day susbtantially say 5% due to recent overselling and the recent falls IMHO due to the IOP bullish return from the P.R.C. holiday.
Steel and H.R.C steel prices seem to be out of sync if the IOP is going to reverse in DALIAN trade, so my hunch is there is more upside to the IOP, FMG, BHP, RIO, AGO, MGX, BCI but as always having said that I am perhaps likely to be now called wrong and all the SPs and IOP will now tank in spite of my upside call.
fmg and fe, page-788
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Last
$18.12 |
Change
-1.430(7.31%) |
Mkt cap ! $55.79B | |||
| Open | High | Low | Value | Volume |
| $18.76 | $18.85 | $18.12 | $253.5M | 13.75M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 14492 | $18.12 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.15 | 25635 | 2 |
View Market Depth
| Last trade - 16.10pm 11/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |